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Fly News Breaks for January 7, 2016
DVN
Jan 7, 2016 | 08:23 EDT
JPMorgan analyst Arun Jayaram says the recent underperformance in shares of Devon Energy following the $2.5B Felix and PRB acquisitions provides an attractive entry point into the name. All signs point to a deleveraging catalyst early this year with the monetization of the Access Pipeline, which could fetch up to $1B or more, Jayaram tells investors in a research note. He lowered his price target for Devon shares to $42 from $46 and keeps an Overweight rating on the name.
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