Singapore Stock Market News

Noble Group - A great bargain

StockFanatic
Publish date: Mon, 01 Apr 2013, 09:40 AM
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Slower economic activity, heightened risk aversion and earnings disappointments have pinned Noble's share price near to all-time lows. The IMF now projects an acceleration of global growth in 2013-2014, suggesting that Noble's fortunes could be turning.

Against a backdrop of low expectations and low ownership, any positives from earnings surprises and a return of risk appetites could spark Noble's rerating. We maintain our Outperform rating, EPS estimates and target price (10.1x CY14 P/E, 0.5SD below the 5-year mean).
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