Quite a few analysts have downgraded Noble to a SELL following CEO Ricardo Leimain's resignation as well as the Q3 loss. The Q3 loss was supposedly hit by commodity price swings but most are taking a cautious approach and waiting till further details are out before making further decisions. Though management has attributed the surprise Q3 loss to transitory events, it is not certain when these transitory events will pass.
OCBC has downgraded Noble to a SELL with $1.16 fair value. With the global economy likely to hit a slump coupled with the uncertainty on the outlook for the global commodity market, Noble is perhaps facing certain challenges.
On a positive note, the group's plan to spin off its agricultural business has also received approval from SGX
2 comments:
Pretty fair for consumers. Thanks for updating.
I just came across this blog and was very pleased to see Jim Rogers' name referenced in the heading. He is my all time favorite investor, and I'd forgotten that he had set up shop in Singapore!
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