NE Price Prediction Next Week
Technical Analysis: Noble Corporation (NE) shows a bullish trend in recent trading sessions, with the stock closing at $41.28 on February 23rd. The price has formed higher lows and higher highs, indicating positive momentum.
Price Targets for Next Week: Based on technical indicators and recent price action:
- Support levels: $40.45 (recent low)
- Resistance levels: $42.36 (recent high)
- Target range: $41.80 - $43.20
News Impact:
- Positive earnings outlook with analysts expecting revenue of $899.8M and EPS of $0.65
- Strong institutional interest with mixed activity (166 institutions adding positions vs 177 reducing)
- Recent Q4 2024 results showed 63% year-over-year growth in adjusted net income and 44.2% revenue improvement
Trading Recommendation: BUY with entry point at current levels ($41.28) Rationale:
- Strong earnings momentum
- Positive technical setup with higher lows
- Institutional support
- Set stop loss at $40.20
- First target: $42.50
- Second target: $43.20
The stock shows potential for continued upward movement based on both technical and fundamental factors, with the upcoming earnings release likely to provide additional catalyst for price appreciation.
NE Similar Chart Price Prediction
The price of NE is predicted to go up -8.95%, based on the high correlation periods with FTI. The similarity of these two price pattern on the periods is 98.31%.
NE
FTI
Down: -8.95%Similarity: 98.31%
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NE Analyst's Forecast
James West
Evercore ISI Group
Buy → Hold
2025-01-15
Price Target
$64 → $41
Upside
+18.39%
Evercore ISI downgraded Noble Corp. to In Line from Outperform with a price target of $41, down from $64. The firm says oilfield services stocks have been hit with the "dual negatives" of a low growth North America contending with a "rapidly consolidating customer base and capital restraint internationally that has ended any semblance of a coordinated global upcycle for the industry." This combines with "wobble" in second half of 2024 oil prices, the analyst tells investors in a research note. Evercore's global exploration and production spending survey anticipates flat spending in 2025. It reduced 2025 estimates by 10% across the sector to reflect a more cautious spending outlook and downgraded eight names in the group.
Eddie Kim
Barclays
Buy
2024-12-18
Price Target
$47 → $42
Upside
+44.78%
Arun Jayaram
JP Morgan
Hold
2024-12-06
Price Target
$37
Upside
+16.72%
