Jefferies Reiterates Hold, $43 PT on Newfield Exploration

Jefferies maintains its Hold rating and $43 price target on Newfield Exploration (NYSE: NFX) as Uinta basin takeaway look to expand.

Jefferies says, “New Black Wax refinery agreement provides material expansion of Uinta takeaway capacity starting in 2013. While takeaway issues appear resolved, geologic consistency remains uncertain.”

NFX closed at $45.60 per share on Monday.