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Fly News Breaks for April 7, 2015
DVN
Apr 7, 2015 | 08:04 EDT
Argus increased its price target on Devon as the firm believes that the company will be better positioned following the completion of recent asset divestitures and acquisitions. The firm says that the company going forward will derive a greater portion of its production mix from higher-margin liquids than from lower margin natural gas. Argus adds that the company's discount to its peers is unwarranted, given its low leverage, cash flow visibility and access to liquidity, Argus keeps a Buy rating on the stock.