KLR Group Upgrades Newfield Exploration (NFX) to Buy

KLR Group upgraded Newfield Exploration (NYSE: NFX) from Hold to Buy with a price target of $38.00 (from $36.00).

Analyst John Gerdes commented, "We are upgrading NFX from Hold to Buy and increasing our target price $2 to $38 per share due to a fractionally higher liquids composition and slightly lower operating/transport expense. Since our January 23rd downgrade, NFX has depreciated ~30% and underperformed the sector by ~15%. NFX currently has ~60% equity value upside and therefore merits an upgrade to Buy. Our ’18 production expectation of ~182 Mboepd is above the midpoint of company guidance (173-188 Mboepd)."

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 $23.20 yesterday.

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