UPDATE: Pritchard Raising Price Target On Newfield Exploration

Pritchard Capital is out with a research report on Newfield Exploration Co. NFX and is raising its price target to $93 from $87, and it has a Buy rating on shares. In a note to clients, Pritchard Capital writes, "Raising NAV to $110 from $102 and increasing price target to $93 from $87, reiterate ‘Buy' rating Adjusting 2011 EPS/CFPS to $4.94/$12.15 from $5.07/$11.91 and raising 2012 EPS/CFPS to $6.34/$14.97 from $5.88/$13.68 Additional upside from the Southern Alberta Basin and an undisclosed stealth play" Shares of NFX gained $1.25 yesterday to close at $72.85, a gain of 1.75%.