Noble Corporation Earns Price Target Hike as Offshore Tailwinds Build

Noble Corporation plc (NYSE:NE) is one of the best oil drilling stocks according to hedge funds. On July 10, Barclays reaffirmed its Overweight rating and raised its 12-month price target to $30 (from $29), highlighting the company’s solid offshore positioning and backlog strength.

Barclays analyst Eddie Kim emphasized that even in a choppy offshore drilling market, Noble Corp (NYSE:NE)’s modern fleet and contract visibility provide cushioning. They believe rising activity later in the year could drive sustained upside beyond the $30 target.

This isn’t a lukewarm hold, it’s a clear vote of confidence from a top-tier bank. Hedge funds love offshore contractors with rigorous fleets and multi-year deal cover, and this call puts Noble back in the spotlight.

Noble Corporation (NE) is a pure-play offshore drilling contractor with high-spec semis and drillships, focusing on deepwater and ultra-deepwater operations worldwide.

While we acknowledge the potential of NE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None.