Barclays analyst Eddie Kim lowered the firm’s price target on Noble Corp. (NE) to $48 from $54 and keeps an Overweight rating on the shares. The firm believes 2025 will be a challenging year for the offshore drillers given the “air pocket of demand” against the number of rigs coming off contract. It lowered dayrate and contracting assumptions as well as price targets in the group.
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Read More on NE:
- Benchmark downgrades trio of energy companies with offshore drilling stabilized
- Noble Corp. downgraded to Hold from Buy at Benchmark
- Noble Corp. price target lowered to $54 from $55 at Barclays
- Noble Corp. price target lowered to $45 from $63 at Citi
- Noble Corporation’s Strategic Merger and Leadership Expansion