Goldman Sachs Pounds the Table on Noble Energy (NBL) Following Cyprus Find; Says Co. Could Be a Consolidation Target
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Price: $8.46 --0%
Rating Summary:
23 Buy, 18 Hold, 4 Sell
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 18 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs reiterated their Conviction Buy List rating and $109 price target on Noble Energy (NYSE: NBL) following a discovery in its Cyprus A exploration well in Cyprus.
The firm believes the success is material enough to fast-track an LNG development in Cyprus, a EU member country. "We view this as significant because we believe there are fewer political hurdles for consumers to take gas from an EU country," the firm said.
Goldman said the discovery as a key positive for Noble. They believe the Street is now more likely to quickly afford resource credit for Eastern Mediterranean potential. This also makes Noble a much stronger consolidation candidate, particularly to European commodity producers, the firm said.
For an analyst ratings summary and ratings history on Noble Energy click here. For more ratings news on Noble Energy click here.
Shares of Noble Energy closed at $95.64 yesterday.
The firm believes the success is material enough to fast-track an LNG development in Cyprus, a EU member country. "We view this as significant because we believe there are fewer political hurdles for consumers to take gas from an EU country," the firm said.
Goldman said the discovery as a key positive for Noble. They believe the Street is now more likely to quickly afford resource credit for Eastern Mediterranean potential. This also makes Noble a much stronger consolidation candidate, particularly to European commodity producers, the firm said.
For an analyst ratings summary and ratings history on Noble Energy click here. For more ratings news on Noble Energy click here.
Shares of Noble Energy closed at $95.64 yesterday.
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