Noble - Analysts still like commodity trader.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

02/12/10 CIMB Noble 2.92 3.7 Outperform
03/26/10 CIMB Noble 3.18 3.75 Outperform PER14x
04/07/10 CIMB Noble 3.21 3.75 Outperform PER14x
04/19/10 CIMB Noble 3.13 3.75 Outperform
04/20/10 CIMB Noble 3.1 3.75 Outperform PER14x
05/07/10 CIMB Noble 2.88 3.75 Outperform PER14x
05/14/10 CIMB Noble 2.95 3.75 Outperform
06/02/10 CIMB Noble 1.72 2.42 Outperform PER14x
06/08/10 CIMB Noble 1.78 2.42 Outperform
08/05/10 CIMB Noble 1.66 2.2 Outperform PER12.8x
08/13/10 CIMB Noble 1.59 1.27 Underperform PER12x
09/21/10 CIMB Noble 1.94 1.62 Neutral PER13x
11/10/10 CIMB Noble 2.13 2.45 Outperform PER14x
12/21/10 CIMB Noble 2.04 2.6 Outperform PER14x

11/03/10 CLSA Noble 1.95 2.42 Buy

02/24/10 DBS Vickers Noble 3.12 3.5 Buy DCF
03/24/10 DBS Vickers Noble 3.12 3.5 Buy DCF
04/01/10 DBS Vickers Noble 3.06 3.7 Buy
05/07/10 DBS Vickers Noble 2.88 3.7 Buy
05/18/10 DBS Vickers Noble 1.83 2.37 Buy
08/11/10 DBS Vickers Noble 1.65 2 Buy DCF
08/13/10 DBS Vickers Noble 1.59 1.62 Hold DCF
09/21/10 DBS Vickers Noble 1.94 1.85 Hold
11/10/10 DBS Vickers Noble 2.13 2.6 Buy DCF, PER17.9x

02/25/10 DMG & Partners Noble 3.12 3.57 Buy PER17x
03/24/10 DMG & Partners Noble 3.19 3.57 Buy
04/07/10 DMG & Partners Noble 3.21 3.57 Buy
04/20/10 DMG & Partners Noble 3.1 3.57 Buy
05/07/10 DMG & Partners Noble 2.88 3.57 Buy PER17x
05/18/10 DMG & Partners Noble 1.83 2.31 Buy PER17x, Bonus Issue
06/15/10 DMG & Partners Noble 1.79 2.31 Buy
08/05/10 DMG & Partners Noble 1.66 2.31 Buy
08/16/10 DMG & Partners Noble 1.59 1.92 Buy PER17x
09/21/10 DMG & Partners Noble 1.94 2.24 Buy PER12.6x
10/22/10 DMG & Partners Noble 1.94 2.24 Buy RNAV
11/03/10 DMG & Partners Noble 1.95 2.24 Buy
11/10/10 DMG & Partners Noble 2.13 2.46 Buy PER13.8x
12/21/10 DMG & Partners Noble 2.04 2.58 Buy PER13.8x
01/05/11 DMG & Partners Noble 2.04 2.58 Buy

12/08/10 Goldman Sachs Noble 2.15 2.6 Buy PER16.3x

10/13/10 HSBC Noble 1.95 2.58 Overweight

12/23/10 IIFL Noble 2.08 2.78 Buy

06/01/10 Kim Eng Noble 1.81 2.38 Buy PER15x
06/29/10 Kim Eng Noble 1.78 2.38 Buy PER15x
08/13/10 Kim Eng Noble 1.59 2.06 Buy PER15x
11/10/10 Kim Eng Noble 2.13 2.58 Buy
12/02/10 Kim Eng Noble 2.08 2.58 Buy PER18x
12/07/10 Kim Eng Noble 2.08 2.95 Buy PER20x
01/10/11 Kim Eng Noble 2.29 3 Buy PER20x

02/24/10 Lim & Tan Noble 3.12 0 Buy
04/01/10 Lim & Tan Noble 3.06 0 Hold
04/07/10 Lim & Tan Noble 3.21 0 Buy
04/12/10 Lim & Tan Noble 3.21 0 Hold
04/15/10 Lim & Tan Noble 3.2 0 Buy
04/16/10 Lim & Tan Noble 3.21 0 Buy
04/20/10 Lim & Tan Noble 3.1 0 Buy
06/21/10 Lim & Tan Noble 1.84 0 Buy
08/13/10 Lim & Tan Noble 1.59 0 Buy
12/09/10 Lim & Tan Noble 2.15 0 Overweight

02/08/11 Nomura Noble 2.27 2.76 Buy

03/10/10 OCBC Noble 3.35 3.75 Buy
04/06/10 OCBC Noble 3.19 3.75 Buy
04/08/10 OCBC Noble 3.24 3.75 Buy
04/21/10 OCBC Noble 3.11 3.75 Buy
04/27/10 OCBC Noble 3.08 3.75 Buy
06/07/10 OCBC Noble 1.82 2.42 Buy
06/15/10 OCBC Noble 1.79 2.42 Buy
08/05/10 OCBC Noble 1.66 2.27 Buy
08/13/10 OCBC Noble 1.59 1.87 Buy PER17x
09/02/10 OCBC Noble 1.57 1.87 Buy
09/08/10 OCBC Noble 1.71 1.87 Buy
09/21/10 OCBC Noble 1.89 1.97 Buy
09/28/10 OCBC Noble 1.91 1.97 Hold
11/22/10 OCBC Noble 2.08 2.59 Buy
12/14/10 OCBC Noble 2.11 2.59 Buy

08/23/10 phillip Noble 1.63 1.96 Buy PER13x
09/22/10 phillip Noble 1.94 1.96 Hold PER13x
11/10/10 phillip Noble 2.13 2.33 Buy PER15x
12/15/10 phillip Noble 2.11 2.33 Buy