Stock Name: Noble Grp
Company Name: NOBLE GROUP LIMITED
Research House: Daiwa
Company Name: NOBLE GROUP LIMITED
Research House: Daiwa
Daiwa has cut its target price for Singapore-listed commodity firm Noble Group (NOBG.SI) to $2.42 from $2.54, but maintained its buy rating.
Daiwa has cut its target for Noble to reflect the dilution of its shares after the firm announced a $634.5 million share placement on Friday.
The brokerage estimated that Noble’s share issue will lower its net debt-to-equity ratio to about 90%, implying that the firm is well-capitalised to expand via acquisitions or organic expansion.
Daiwa has cut its target for Noble to reflect the dilution of its shares after the firm announced a $634.5 million share placement on Friday.
The brokerage estimated that Noble’s share issue will lower its net debt-to-equity ratio to about 90%, implying that the firm is well-capitalised to expand via acquisitions or organic expansion.
At 10:42 a.m., shares of Noble were 0.47% higher at $2.14, but have fallen 1.4% since the start of the year.
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