Citi Reiterates Buy on Noble Corp (NE)

Citi is out with its report today on Noble Corp NE, reiterating Buy. In a note to clients, Citi writes, "A key question is whether contractors will take advantage of attractive newbuild terms to retool their fleets with premium rigs. We expect contractors like NE, who act now and concentrate on building assets with unique capabilities, will capture a healthy share of the high-spec market's upside." Shares of NE closed Monday at $44.77, down 0.82% from Friday's close.