Deutsche Bank Maintains a 'Buy' on Noble Energy (NBL); Continued Clarity of Path for Growth

Deutsche Bank maintains a 'Buy' on Noble Energy (NYSE: NBL) price target raised from $118 to $130.

Deutsche analyst says, "We see improving clarity from the Eastern Mediterranean over the coming 6-12 months supporting a path to $130/shr, 36% potential upside. The path to monetization of significant natural gas discoveries (~30 Tcf basin wide) is opaque to the market and driving a higher than normal discount rate. The approval of Israeli exports, future domestic developments and Cyprus should all narrow the current gap to NAV. In this note we outline our expectations, valuation, and event path in regards to the stock."

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 $95.45 yesterday.

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