By: Benzinga
UPDATE: Societe Generale Cuts PT to $39 on Newfield Exploration on Lower Estimates
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
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