Noble Group (N21.SG) last trading flat at $1.78 in light trade, recouping part of 3.8% losses over last 2 sessions, on back of modest rise in broader market, says Dow Jones.

Latest regulatory filing of Noble buying 5.13% stake in uranium enrichment company USEC (USU) for US$30.2 million ($42.7 million) doing little for share price, although move expands Noble’s suite of products within its energy segment.

JPMorgan, which has Overweight call with $2.26 target, tips minimal boost to earnings of just 1.0–1.2% in FY11-FY12; notes while management has previously indicated possibility of looking at opportunities in nuclear business, current focus still about expanding its coal, oil & gas footprint.

Price not expected to test last week’s high of $1.86.