Nomura Securities Upgrades Noble Energy (NBL) to Buy

Nomura Securities upgraded Noble Energy (NYSE: NBL) from Neutral to Buy with a price target of $36.00

Analyst Lloyd Byrne commented, "Given NBLs asset quality and financial positioning, we believe the company sits squarely in the ”survivor” camp. NBL is well placed given its current leverage, its locked in Israel pricing, its fixed Alba (34% WI) contract, and its 2016 commodity hedge (Fig. 8). Using ~$40/WTI in 2016, we estimate ~$2bn in CFO, and ~16% production growth, resulting in positive Debt Adjusted Cash Flow (DCAF) growth; One of the select few in the E&P universe in 2016."

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 $25.72 yesterday.

You May Also Be Interested In

• Nomura/Instinet Upgrades Sunway Healthcare Holdings (SUNMED:MK) to Buy
• Walmart (WMT) PT Lowered to $125 at JPMorgan, Overweight Rating Maintained as 'Short Case Feels Greedy'
• Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project