UPDATE: Societe Generale Cuts PT to $39 on Newfield Exploration on Lower Estimates
Posted on November 21, 2012 at 13:37 PM EST
Societe Generale reiterated its Buy rating on Newfield Exploration (NYSE: NFX ) but reduced its price target from $40 to $39. Societe Generale said, "Our valuation multiple is a roughly 30% discount to the peer group multiple due to prior issues in the Bakken, the need to prove the