Noble Grp: Consensus estimates that 3Q net profit likely flat YoY at US$132m, though it may surprise on upside on hardening of global commodity prices, contributions from Argentinian soybean crushing project that started in Apr...
CLSA who has Buy call with TP of $2.42 notes that grp with total tonnage of 180m MT is an excellent proxy to increasing demand for both hard and soft commodities with deep footprint in resource rich (countries such as) Brazil, Argentina, Australia, Indonesia and resource hungry countries. Expect Noble to become more "solid" company after spending US$1 b on building assets, with over US$3b spent since 2007. Noble reports earnings after market close today.
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