UPDATE: Guggenheim Securities Reiterates Buy Rating, $48 PT on Noble Corporation
In a report published Monday, Guggenheim Securities reiterated its Buy rating and $48.00 price target on Noble Corporation (NYSE: NE).
Guggenheim noted, “We maintain our price target of $48/sh. Our methodology weighs our NAV - Break-Up, or liquidation value of the company, and our NAV - Reinvestment Value, which discounts the value of assumed future investment against our view of the company's capital budgeting strategy and our future forecast of the offshore rig market across asset classes.”
Noble Corporation closed on Friday at $33.24.
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