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Fly News Breaks for September 17, 2018
NE
Sep 17, 2018 | 16:39 EDT
BTIG analyst Gregory Lewis initiated Noble with a Neutral rating as part of his broader research note on offshore drilling service industry, saying the company looks "fairly valued" at 17-times forward EBITDA even though it offers "the best fleet on the water" with a mix of premium Floaters and Jackups. The analyst adds that the stock has shrugged off the risk of potential litigation from Paragon bondholders, and its near term focus is with winning floater work while also positioning its rigs effectively.
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