Canaccord Genuity Maintains a 'Hold' on Noble Corp (NE); More Downtime Lowers 2012

Canaccord Genuity maintains a 'Hold' on Noble Corporation (NYSE: NE) price target of $40.00.

Canaccord analyst, Scott Burk, said, "Noble released a fleet status update with several upside contracts/extensions. However, additional downtime and slight newbuild delivery delays lower our 2012 estimates...We also decreased our baseline fleet utilization assumptions in 2013 from 97% to 95%."

For an analyst ratings summary and ratings history on Noble Corporation click here. For more ratings news on Noble Corporation click here.

Shares of Noble Corporation closed at $31.17 yesterday.

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