Noble

Noble: likely to be in play, as it continues its rapid pace of M&A expansion in the energy, agri space to meet rising demand from China and India. Backed by CIC, China’s sovereign wealth fund, which owns a 15% stake, we see opportunities for Noble to successfully develop its China business going forward...

Mgt plans to expand into supplies of nuclear fuel to meet rising demand from China and India, following recent acquisition of 5.1% stake in USEC Inc, a US provider of enriched uranium with 50% global mkt share. About half the world's nuclear reactors under construction at present are in China, comprising 25 reactors with a total capacity of 28GW. The govt has also approved the construction of 34 other reactors, which will have a combined capacity of 37GW…

NOBLE : newspaper reported they are interested to exapnd their nuclear energy business. Noble is also seeking to expand its grain and oilseed business to take advantage of rising global food demand, which has driven up prices for wheat, corn and soybeans as much as 62% since June 1. Sees sunflower seed opportunities in the Black Sea region, the world’s biggest sunflower seed grower, and intends to acquire origination, logistics, industrial assets…

Daiwa upgrades target to $2.21 from $2. OCBC however remains less convinced. Downgrades to Hold from buy, maintains $1.97 target. Says strong set of 3Q10 earnings is required to justify further share price outperformance. Thinks issues that plagued commodity supplier's 2Q10 results, such as shift in revenue mix to lower-margin oil & gas business not likely to vanish overnight.