Citi analyst Scott Gruber lowered the firm’s price target on Noble Corp. (NE) to $32 from $34 and keeps a Neutral rating on the shares. The firm adjusted price targets as part of its 2026 outlook for the oil and gas equipment and services group. Citi believes the industry is in the bottom of a two-year downcycle. The lack of negative estimate revisions could drive better share performances in 2026, the analyst tells investors in a research note. Citi elevated SLB to its top large-cap pick, followed by Baker Hughes and Halliburton.
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