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Fly News Breaks for February 22, 2019
NE
Feb 22, 2019 | 08:00 EDT
Argus analyst David Coleman downgraded Noble Corp to Sell after its Q4 results showed a widening earnings loss of (36c) vs. (29c) last year. The analyst also points to the 21% decline in the company's stock price over the past year and 28% decline in the past 3 months, with widening borrowing costs for Noble coming from a series of downgrades from the ratings agencies. Beyond the next 90 days, Coleman adds that Argus will be suspending coverage on Noble Corp as it no longer meets the criteria of covering stocks "that appear most promising to analysts and generate the most interest".
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