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UPDATE: Wunderlich Initiates Coverage on Noble Corporation on Valuation, Potential Catalysts


In a report published Wednesday, Wunderlich Securities analyst Todd P. Scholl initiated coverage on Noble Corporation (NYSE: NE) with a Buy rating and $51.00 price target.

In the report, Wunderlich Securities noted, “We are initiating coverage of Noble Corporation (NE) with a Buy rating and a price target of $51, which represents a 6x 2015 EV/EBITDA multiple. Historically, Noble's fleet has been dominated by standard jack-ups and moored floaters but in recent years the company has shifted its focus toward higher specification jack-ups and dynamically positioned deep water floaters as evidenced by the company's current newbuild pipeline. Noble also is considering a spin-off of its older jack-ups rigs, which, once complete, should be a positive catalyst. At the current valuation, we believe the stock offers attractive appreciation potential.”

Noble Corporation closed on Tuesday at $37.04.

Latest Ratings for NE

Oct 2019MaintainsUnderweight
Sep 2019DowngradesOutperformSector Perform
Sep 2019DowngradesNeutralSell

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Posted-In: Todd P. Scholl Wunderlich SecuritiesAnalyst Color Initiation Analyst Ratings


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