Home Capital Broker's Calls

What will it take for Noble to restore investor confidence?

Michelle Zhu
Michelle Zhu10/10/2016 04:32 PM GMT+08  • 3 min read
What will it take for Noble to restore investor confidence?
SINGAPORE (Oct 10): DBS Vickers Securities is maintaining its “hold” recommendation on Noble Group with a higher target price of 19 cents from 17.5 cents previously, after the Asian commodities trader today announced its sale of Noble Americas Energy
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Oct 10): DBS Vickers Securities is maintaining its “hold” recommendation on Noble Group with a higher target price of 19 cents from 17.5 cents previously, after the Asian commodities trader today announced its sale of Noble Americas Energy Solutions (NAES) to Calpine Corporation for a sum of US$1.05 billion ($1.44 billion).

(See also: Noble sells energy unit to Calpine for US$1.05 bil)

Although the divestment further strengthens the group’s balance sheet, it will still take time for Noble to restore investor confidence in its business model, says DBS analyst Mervyn Song in a Monday report.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now