Duncan-Williams Upgrades Noble Corporation to Strong Buy, PT Set to $54 (NE)

Duncan-Williams upgraded Noble Corporation NE from Reduce to Strong Buy. The new price target was set to $54. In a research report published today, Duncan-Williams stressed it believes Noble's shares are underestimated at the moment. In the report, Duncan-Williams states, "We are upgrading Noble to a STRONG BUY rating from a REDUCE rating based on valuation. The company is trading at a 10 percent discount to the group for 2012 on a P/E basis. With the recent pullback in the space and the pullback in commodities, we believe investors should include Noble in their portfolios at present stock price levels." In today's trading, Noble added 2.66% to its shares and is currently trading at $40.51.