Barclays Reiterates an 'Overweight' on Noble Energy (NBL); This Leviathan is a Top Pick

Barclays reiterates an 'Overweight' on Noble Energy (NYSE: NBL) price target of $119.00 (from $112.00).

Analyst, Thomas R. Driscoll, said, "Noble's outlook for debt adjusted production/reserves/cash flow growth in the mid-teens coupled with reasonable valuation makes NBL a top pick, in our view."

Driscoll feels the recent underperformance versus its peer group, plus low execution risk, as well as ramp in production will benefit the company near-term. Milestones around Leviathan could be catalysts longer-term.

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 $89.10 yesterday.

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