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UPDATE: Jefferies Downgrades Noble Corporation to Hold, Lowers PT

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In a report published Friday, Jefferies downgraded its rating on Noble Corporation (NYSE: NE) from Buy to Hold, and lowered its price target from $44.00 to $41.00.

Jefferies noted, “We downgrade NE to Hold from Buy as we lower our PT to $41 from $44 and 2013/2014E EPS to $3.05/$4.25 from $3.80/$4.90. NE's disappointments on opex and capex guidance don't completely overwhelm the excitement we have for its long term earnings growth potential, but given share appreciation and near term risks (still), we prefer to be on the sidelines with this stock.”

Noble Corporation closed on Thursday at $37.46.

Latest Ratings for NE

DateFirmActionFromTo
May 2016Argus ResearchDowngradesBuyHold
Apr 2016NomuraInitiates Coverage onReduce
Apr 2016JefferiesMaintainsHold

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