- Noble Energy (NBL +1%) is higher after Mizuho upgrades shares to Buy from Neutral with a $29 price target, edged up from $28, as analyst Paul Sankey says the company's upcoming free cash flow inflection "is too close to ignore."
- Also, NBL's 2019 budget and outlook is "de-risked," and the risk/reward in the Delaware Basin is "significantly better this year than last, Sankey says.
- Separately, NBL says it will relinquish its stake in the Alon D exploration license offshore Israel, making Delek's (OTCPK:DGRLY) Ithaca Energy the new operator of the block.