Deutsche Bank Lowers EPS Estimate on Newfield Exploration

A report from Deutsche Bank reiterates its Buy rating and $58 price target, and lowers its EPS estimate from $4.19 to $4.13 on Newfield Exploration (NYSE: NFX).

The report states, “We are reiterating our Buy and $58 PT. Following a Q3 characterized by a lack of execution in the Bakken and a trim to ‘12 forecasts, expectations seem low. The key debate centers around NFX's ability to grow in its core—Uinta, Woodford, and Eagle Ford—while augmenting Bakken, Wash, and Malaysia. This growth, against the decline of onshore gas, is the key to '12.”

NFX closed yesterday at $40.78.