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Fly News Breaks for May 12, 2016
DVN
May 12, 2016 | 09:28 EDT
Stephens analyst Ben Wyatt raised his price target for Devon Energy to $30 from $24 on higher strip prices. The company has "plenty to do" when the time is right to ramp as results in the Delaware and STACK continue to impress, the analyst tells investors in a research note, adding that costs continue to trend in a positive direction and leverage ratios continue to improve as commodity prices cooperate. Wyatt views Devon Energy's assets as best in class but reiterates an Equal Weight on the shares due to valuation.
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.