The sharks have been circling Noble Corporation (NYSE:NE) lately, as a call feeding frenzy has pushed the share price of the offshore drilling contractor up, even though they were recently downgraded by Credit Agricole Securities from "Outperform" to "Underperform."
Stephens & Co. also cut the company from an "Overweight" to an "Equal-weight" on Thursday, and put their 12-month price target on the company at $41. Agricole has a 12-month price target of $32.
These call traders believe the company will surge ahead of the July expiration.
Share were at $29.29 as of 1:43 PM EDT, a gain of $0.83, or 2.92 percent.
3 comments:
NE has a MARKET CAPITILIZATION of 7.49 Billion. With this merger NE will net an approximate 2 Billion.
So the stock price should be approximately:
Stock Price
= (7.49 + 2)B / (Shares of 256 M)
= $ 37
Wow!!
NE is one of the very few will skyrocket once the drilling moratoriom is lifted or reduced, fact is has only 3 rigs there, meaning not afected at all and is the highest performing of all drillers by all standards, a steal at that or any price under 38, i'm building up guys....
NE is taking off!
30 % of the Volume in an hour.
Looks like it's headed up, and FAST!
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