Noble Grp - Noble Group raised to Neutral by Credit Suisse but trims target

Stock Name: Noble Grp
Company Name: NOBLE GROUP LIMITED
Research House: Credit Suisse

Credit Suisse upgrades Noble Group (N21.SG) to Neutral from Underperform but trims target price to $1.65 from $1.75, says Dow Jones.



Credit Suisse lowers 2010, 2012 earnings estimates by 4%, 15% on back of weaker-than-expected 2Q earnings but notes strong balance sheet, significant underperformance of stock means negatives mostly priced in.



“Noble now trades at just 12% above its five-year average, versus the peak of 68% premium.” Share price last down 0.6% at $1.58.