Noble Corporation (NE) Price Target Raised by $7

The share price of Noble Corporation plc (NYSE:NE) surged by 16.28% between February 2 and February 9, 2026, putting it among the Energy Stocks that Gained the Most This Week.

Noble Corporation plc (NYSE:NE) is an offshore drilling contractor serving the oil and gas industry worldwide.

Noble Corporation plc (NYSE:NE) received a boost on February 2 when BTIG raised its price target on the stock from $35 to $42, while maintaining a ‘Buy’ rating on the shares. The revised target comes as part of the analyst firm’s broader research note on Offshore Services companies. BTIG noted that a pickup in rig contracting is helping to de-risk 2026, adding that, despite day rates largely trending sideways, clients continue to expand their contracted rig portfolios.

Similarly, on January 27, Barclays analyst Eddie Kim also increased the firm’s price target on Noble Corporation plc (NYSE:NE) from $33 to $36 while keeping its ‘Overweight’ rating on the shares. The revision comes after the company announced new contract awards for 9 rigs, totaling approximately $1.3 billion in backlog, on January 26.

Robert W. Eifler, President and CEO of Noble Corporation plc (NYSE:NE), commented:

“These important backlog additions indicate a strong and broad-based demand for deepwater drilling on a multi-year basis. Additionally, the redeployment of four currently idle deepwater rigs should drive a meaningful utilization improvement across our fleet, with 92% of our 24 marketed floaters now contracted compared to 75% in our prior fleet status report. While these programs will present incremental one-time capital expenditure requirements in 2026, we expect them to help drive significantly increased fleet EBITDA and free cash flow in future years, which will be supported by a material reduction in capital expenditure beyond 2026. We look forward to expanding our scale in Norway while continuing to focus on reliable service quality and execution for all of our customers.”

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