Jun. 10 at 11:06 AM
$DVN On June 8, JPMorgan reinstated coverage of DVN) with an Overweight rating. It also set a
$62 price target on the stock. The firm believes the stock’s current trading levels present an attractive entry point for investors. In a research note, the analyst said Devon offers a “compelling absolute and relative valuation proposition.” The firm also sees opportunities to capture additional synergies and believes a portfolio high-grading process could help unlock further value.
On June 1, Truist raised the firm’s price goal on Devon Energy to
$66 from
$63. It maintained a Buy rating on the shares.
