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Fly News Breaks for October 28, 2015
DVN
Oct 28, 2015 | 07:58 EDT
As reported previously, UBS downgraded Devon Energy to Sell from Neutral. The firm cited its rich valuation and high financial leverage. UBS lowered its price target to $37 from $46 on Devon Energy shares.
News For DVN From the Last 2 Days
DVN
Mar 28, 2024 | 09:17 EDT
Morgan Stanley raised the firm's price target on Devon Energy to $49 from $48 and keeps an Overweight rating on the shares. The energy sector is experiencing an improving macro backdrop, which has led to a catch-up trend experience in energy stocks, the analyst tells investors. With valuations still 2x the historic discount vs S&P, strong free-cash-flow yields, and positive earnings revisions, the firm sees a path to further outperformance.