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Stifel Upgrades Newfield on Positive Outlook

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In a report published Friday, Stifel analyst Amir Arif upgraded Newfield Exploration Company (NYSE: NFX) from Hold to a Buy rating with a $32.00 price target.

Arif noted the company's underperformance relative to the EPX over the past year, specifically following Newfield's revised 2014-2016 outlook on December 9. Stifel commented, “We believe that NFX is now well priced relative to 2014 outlook (4.3x EBITDA vs. group at 6.0x) and very attractively priced considering 2015 outlooks (3.9x EBITDA) for a domestic resource company that is growing volumes, NAV, and moving towards FCF in the coming two years. Therefore, as the company executes on its domestic resource plan, corporate volume growth returns, and SCOOP/STACK plays firm up an attractive rate of return area with lots of running room, we expect the name to move up from here.”

Shares of Newfield Exploration Company closed at $24.77 on Friday.

Latest Ratings for NFX

DateFirmActionFromTo
Sep 2014Iberia CapitalInitiates Coverage onOutperform
Sep 2014GMP SecuritiesInitiates Coverage onBuy
Jul 2014BarclaysMaintainsOverweight

View More Analyst Ratings for NFX
View the Latest Analyst Ratings

Posted-In: Amir Arif StifelAnalyst Color Upgrades Analyst Ratings

 

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