Raymond James analyst Kevin Smith upgraded Newfield Exploration two notches to Strong Buy from Market Perform. The analyst said recent well data indicates improving production profiles in the Anadarko Basin, with IP30's trending higher. In his view, the Stack is proving to be one of the most economic places to drill in the country. Furthermore, Newfield has cleaned up its balance sheet and is now prepared for weak oil prices throughout 2016 and 2017. Given its large acreage positions in one of the best oil plays in the country, a solid balance sheet, as well as our bullish outlook on oil in the second half of 2016, Smith upgraded shares.