Canaccord Genuity Maintains a 'Hold' on Noble (NE); FSU confirms recent rate/downtime trends
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Price: $45.10 +1.83%
Rating Summary:
16 Buy, 22 Hold, 8 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 22 Hold, 8 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on Noble Corporation (NYSE: NE) price target of $38.00.
Analyst, Scott Burk, said, "NE's fleet status supports the trend of gradually higher day rates, with an UDW semi getting a decent rate increase for five months, and a jackup getting an extra $5k/day over the last contract. However, additional planned downtime offsets the rate improvement in 2012 and reduces 2013 estimates. We adjusted interest expense slightly higher for 2012/13 to account for the recently issued $1.2B of notes. Maintain HOLD, as our Buy-rated names haven't had as many downtime issues and NE is slightly more expensive than its closest peer, Ensco (NYSE: ESV)."
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 $38.01 yesterday.
Analyst, Scott Burk, said, "NE's fleet status supports the trend of gradually higher day rates, with an UDW semi getting a decent rate increase for five months, and a jackup getting an extra $5k/day over the last contract. However, additional planned downtime offsets the rate improvement in 2012 and reduces 2013 estimates. We adjusted interest expense slightly higher for 2012/13 to account for the recently issued $1.2B of notes. Maintain HOLD, as our Buy-rated names haven't had as many downtime issues and NE is slightly more expensive than its closest peer, Ensco (NYSE: ESV)."
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 $38.01 yesterday.
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