Deutsche Bank Upgrades Newfield Exploration (NFX) to Buy

Deutsche Bank upgraded Newfield Exploration (NYSE: NFX) from to Buy with a price target of $42.00 (from $38.00).

Analyst Stephen Richardson said, "We are increasingly confident in the resource opportunity from the Anadarko basin where well results, resource expansion, and the implied production growth trajectory continues to improve. NFX is a levered play on the basin and our upgrade is based on a renewed confidence that development here can support cash flow growth to outpace capital needs. The stock remains amongst the most commodity levered in our coverage universe."

For an analyst ratings summary and ratings history on Newfield Exploration click here. For more ratings news on Newfield Exploration click here.

Shares of Newfield Exploration closed at $33.57 yesterday.

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