NEW YORK, JANUARY 23 (FinanceEnquiry.com) - Analysts at Deutsche Bank Securities upgrade their rating from Hold to Buy on the shares of Noble Corp (NYSE: NE). The 12-month target price is increased from $34 to $38.

In a research note published on January 20, the analysts mention that the rating is upgraded as concerns related to acceptance of potential downtime associated with new rigs entering the market and about additional downtime from maintenance of subsea equipment are now better discounted.

Noble Corp is in advance of the fleet re-cap curve with stable series and less controversial new builds on the way. Moreover, the development in the offshore market has started to extend beyond the ultra-deep and high spec jack up segments that will benefit Noble Corp