Noble Grp - Noble started at Buy by Phillip Securities with $1.96 target

Stock Name: Noble Grp
Company Name: NOBLE GROUP LIMITED
Research House: Phillip Securities

Phillip Securities starts Noble Group (N21.SG) at Buy with $1.96 target price, based on 13x FY11 P/E, according to Dow Jones.



“With the extensive investments made over the last three years, we believe Noble’s earnings will increase significantly in the next two years as it begins to reap the rewards of its initial investments. More assets will be operational within the next two years, making full contributions to Noble’s earnings,” says Phillip Securities.



Broker notes supply chain manager investing heavily in energy segment, focusing on coal, uranium, ethanol, gasoline, other energy sources, with China, India driving demand. Shares off 1.8% at $1.60.