Market Overview

UPDATE: Pareto Securities Reiterates Hold Rating, Lowers PT on Noble Corporation

Share:

In a report published Friday, Pareto Securities reiterated its Hold rating on Noble Corporation (NYSE: NE), but lowered its price target from $43.00 to $41.00.

Pareto Securities noted, “Noble is in the middle of a transition period where 90% of the cash flow came from older units in 2011, while around 50% will come from modern rigs in 2015E. However, delayed cash flow from newbuilds and significantly higher maintenance capex for older rigs in 2013 is delaying the super profit. We lower our EPS estimate for 2013E from 3.7 to 2.4 due to higher guided opex and tax, while we increase interest cost on the assumptions on more debt due to delayed cash flow. Our target price is lowered from USD 43 to 41.”

Noble Corporation closed on Thursday at $37.46.

Latest Ratings for NE

DateFirmActionFromTo
Oct 2019MaintainsUnderweight
Sep 2019DowngradesOutperformSector Perform
Sep 2019DowngradesNeutralSell

View More Analyst Ratings for NE
View the Latest Analyst Ratings

Posted-In: Pareto SecuritiesAnalyst Color Price Target Analyst Ratings

 

Related Articles (NE)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
KMBDeutsche BankUpgrades124.0
BIIBGuggenheimUpgrades
ACRSSVB LeerinkUpgrades
TRVDeutsche BankUpgrades140.0
CMGStephens & Co.Maintains800.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Societe Generale Reiterates Sell Rating, Raises PT on The Boeing Company

UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on Covance