Stock Name: Noble Grp
Company Name: NOBLE GROUP LIMITED
Research House: MacQuarie
Company Name: NOBLE GROUP LIMITED
Research House: MacQuarie
Macquarie Research cuts Noble Group (N21.SG) target price to $2.25 from $2.50, maintains recommendation at Outperform, according to Dow Jones.
Macquarie trims FY 2010 profit estimate by 12% to reflect 5.0% fall in overall volume assumptions on difficulties in soy crushing, ores and steel and higher expenses in energy unit.
Research house says: “Noble lacks near-term catalysts and enhanced earnings contributions from its large portfolio of assets should be the next catalyst for FY11.” 2Q results due Thursday.
Share price last down 0.6% at $1.64.
Macquarie trims FY 2010 profit estimate by 12% to reflect 5.0% fall in overall volume assumptions on difficulties in soy crushing, ores and steel and higher expenses in energy unit.
Research house says: “Noble lacks near-term catalysts and enhanced earnings contributions from its large portfolio of assets should be the next catalyst for FY11.” 2Q results due Thursday.
Share price last down 0.6% at $1.64.
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