Fly News Breaks for January 21, 2020
Jan 21, 2020 | 07:07 EDT
BMO Capital analyst Phillip Jungwirth raised his price target on Devon Energy to $30 and kept his Outperform rating after discussions with its management last week. The analyst sees the company entering 2020 with a focused high margin and return oil-weighted portfolio that should generate "peer-leading corporate returns and free cash flows". Jungwirth further contends that the stock is undervalued and expects Devon multiples to improve with better visibility for its long-term growth and free cash flows.
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