UPDATE: Global Hunter Securities Initiates Accumulate, $115 PT on Noble Energy

Global Hunter Securities initiates coverage of Noble Energy NBL with an Accumulate rating and $115 price target, reflecting the company's significant growth potential. Global Hunter Securities says, "NBL is showing itself to be a focused, execution-driven company, successful with both exploration in emerging basins and wringing new barrels out of established fields. NBL has significant growth potential ahead and has laid out a very clear and detailed path to get to its 2017 goals. As with any of the internationally focused E&Ps, NBL faces some political risk, but we believe the risk surrounding its Israel/Cyprus plans are manageable and less than meets the eye, and while West Africa can be dicey, Equatorial Guinea is a stable long-time oil producer. Recent operational success in Africa reinforces our view that the company can execute on its development plans." NBL closed at $94.75 a share on Tuesday.