Newfield 2013 volume outlook 'final shoe to drop,' says FBR Capital FBR Capital believes Newfield Exploration's lower than expected 2013 international volume outlook is the "final shoe to drop." After meeting with management, FBR says Newfield's operational progress remains strong. The firm thinks the stock is undervalued and reiterates an Outperform rating on the name with a $38 price target.
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Newfield Exploration should consider upstream MLP, says FBR Capital FBR Capital believes Newfield Exploration management should consider an upstream master limited partnership since the company's Uinta Basin's growth potential is not being fully recognized by investors. FBR said its analysis indicates the pretax value of the Uinta business within an MLP would be $5.3B compared with Newfield's current enterprise value of $6.2B. The firm raised its price target for the stock to $40 from $35 to reflect the company's turnaround progress and keeps an Outperform rating on the stock.