Noble Grp - Noble Group cut to Hold by Phillip Securities

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

Phillip Securities downgrades Noble Group (N21.SG) to Hold from Buy on limited upside to its $1.96 target price, says Dow Jones.



Stock +8.4% yesterday on optimism over earnings visibility following US$582 million ($772.6 million) acquisition of US electricity group Sempra Energy Solutions.



Despite downgrade, house still positive on commodities supplier's prospects.



Says Sempra Energy will add breadth, retail capabilities to Noble's natural gas and power business, contributing about US$80 million annually to group's earnings.



Shares off 0.5% at $1.93.