To enable the user to open Favorites in a New Window, follow the next steps: 

1. Save registry file to the location of your choice and double click it.
    

   fav_window.reg

    

2. Choose Yes (see picture 1).
   
   

   Picture 1

3. This enables users to open favorites in a new window without the need to launch a new instance of Internet Explorer or go to File -> New -> Window.
    
4. The modifications you made will be in effect after you reboot your PC.

Caution: This tweak is ineffective when used under Windows 98 or Windows 2000.