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Fly News Breaks for May 30, 2018
NE
May 30, 2018 | 07:33 EDT
Credit Suisse analyst James Wicklund downgraded Noble Corp. to Neutral from Outperform. The analyst is impressed with the new CEO Julie Robertson, her knowledge of the industry and her understanding of the company and the business, and as Noble does "all the right things." However, the contingent liability of the Paragon lawsuit takes Noble out of the M&A game, for the most part, until it is settled, he contends. Wicklund's concern is that any final settlement could be closer to year-end, which leaves him on the sidelines in the near-term.
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