Morgan Stanley Feels Optimistic Ahead of Noble Energy's Analyst Day
In a report published Friday, Morgan Stanley analyst Evan Calio reiterated an Overweight rating and $82.00 price target on Noble Energy (NYSE: NBL).
In the report, Morgan Stanley noted, “We believe NBL's Analyst Day will drive positive NAV and earnings revisions, largely from Niobrara upside. We see potential for 5% upside to NBL's 5-year Niobrara production CAGR (25% vs. 20%) and 3% upside to its total production CAGR (20% vs. 17%), reinforcing NBL's top-tier growth profile.”
Noble Energy closed on Thursday at $68.68.
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