UPDATE: Stifel Nicolaus Upgrades Newfield Exploration to Buy

Stifel Nicolaus is out with its report today on Newfield Exploration

, upgrading NFX to Buy. In a note to clients, Stifel Nicolaus writes, "NFX should be putting out a positive 2Q earnings release with additional color from NFX or other players involved in the AB Bakken. Additionally, we are looking for acceleration of the Uinta drilling with permit bottlenecks being removed with the recent acquisition as well as deeper zone potential being discussed in the same area." Stifel Nicolaus has an $80 PT on NFX. At the time of posting, shares of NFX were trading at $69.74, down 0.99% from Thursday's close.