Noble Corp. price target lowered to $38 from $40 at Susquehanna

Susquehanna analyst Charles Minervino lowered the firm’s price target on Noble Corp. (NE) to $38 from $40 and keeps a Neutral rating on the shares. The firm updated estimates to reflect an air pocket in floater demand over the next several quarters. Management highlighted potential opportunities for its rigs, but noted if demand does not materialize, it could elect to stack one or more of its sixth-generation drillships.