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Noble Corporation (NE) [hlAlert]

Rating:
Neutral NE
down 18.99 %

Noble Corporation (NE) downgraded to Neutral by Citigroup

Posted on: Friday,  Dec 20, 2013  10:25 AM ET by Citigroup

Citigroup rated Neutral Noble Corporation (NYSE: NE) on 12/20/2013. Previously Citigroup rated Buy Noble Corporation (NYSE: NE) on 09/12/2008., when
the stock price was $45.27. Since then, Noble Corporation has lost 19.00% as of 12/20/2013's recent price of $36.67.
If you would have followed the previous Citigroup's recommendation on NE, you would have lost 18.99% of your investment in 1925 days.

Noble Corporation (Noble) is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 63 mobile offshore drilling units located worldwide. This fleet consists of 13 semisubmersibles, four dynamically positioned drillships, 43 jackups and three submersibles. The fleet count includes five units under construction, including one F&G JU-2000E enhanced jackup, one dynamically positioned ultra-deepwater, harsh environment Globetrotter-class drillship, and three deepwater dynamically positioned semisubmersibles. The Company have secured customer contracts for the one jackup and three semisubmersibles under construction.

Citi Investment Research is a highly respected research unit and is comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, and provides macro and quantitative analysis of global markets and sector trends. Combined with Citi's exceptional sales and trading capabilities and Smith Barney's financial consultants, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/20/2013 10:25 AM Hold
None
36.67
as of 12/13/2013
1 Week down  -3.43 %
1 Month down  -9.16 %
3 Months down  -5.79 %
1 YTD up  4.96 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
9/12/2008 8:25 AM Buy
None
45.27

(*) Stock Price at the time of the recommendation.
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