Global Hunter Raises PT on Noble Energy to $43 (NE)

Global Hunter is out with its report today on Noble Energy NE, raising its price target from $40 to $43.

In a note to clients, Global Hunter writes, "New tenders in Mexico have improved our view of the near-term outlook for the company's jackup fleet as well. Fleet quality will be enhanced long-term with newbuilds and the company today announced it exercised the option for a third drillship. With the fleet improvements we are increasing our price target to $43 from $40, but given the recent stock performance we remain Neutral on shares of NE."

Shares of NE closed Friday at $44.84.