Jun. 6 at 10:35 AM
$DVN Truist Remains Bullish on Devon Energy Corporation
Truist lifted the price target on Devon Energy Corporation (NYSE:DVN) to
$66 from
$63 on June 1, maintaining a Buy rating on the shares. The firm cited the Reuters report that suggested that the company received an
$8 billion offer for its Marcellus asset. It further told investors in a research note that expectations had increased for a divestiture to materialize rather quickly post-merger close, given a hot ABS market and a generally supportive asset market.
DVN also received a rating update from Mizuho on May 27, with the firm adjusting the price target on the stock to
$68 from
$62 while maintaining an Outperform rating on the shares.
