UPDATE: Citi Raises PT on Noble Energy

Citi has published a report on Noble Energy Inc.

wrapping up Q2 and raising the price target $12. In the report, Citi wrote, "As outlined in our previously published ‘Quick Read' note, Noble posted better-than-expected results due to higher-than-anticipated commodity price realizations, lower operating expense and higher-than-projected deferred taxes, while total production matched our forecast." Citi rated Noble Energy a HOLD with a price target raised from $98.00 to $110.00. Noble Energy closed Thursday at $99.01.