Noble cut to 'neutral' with 77 cents target price by Goldman

Stock Name: Noble
Company Name: NOBLE GROUP LIMITED

Research House: Golman Sachs

Price Call: HOLD

Target Price: 0.77

SINGAPORE (June 17): Noble Group is coming under renewed pressure as Goldman Sachs downgraded the stock from "buy" to "neutral", along with a reduced target price of 77 cents from $1.30, as commodity prices continue to soften.

Weak commodity prices, in turn, will hurt Noble's profitability and cash generation from derivative assets, state analysts Nikhil Bhandari and Nelson Goh in a June 17 note.