Raymond James Maintains Strong Buy on Devon Energy, Lowers Price Target to $62
Portfolio Pulse from richadhand@benzinga.com
Raymond James analyst John Freeman has maintained a Strong Buy rating on Devon Energy (NYSE:DVN), but lowered the price target from $70 to $62.
July 24, 2023 | 2:16 pm
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Devon Energy's price target has been lowered from $70 to $62 by Raymond James, though the Strong Buy rating is maintained.
The news is directly related to Devon Energy as the company's price target has been lowered by Raymond James. However, the Strong Buy rating is maintained which indicates that the analyst still has a positive outlook on the company. This could lead to a neutral impact on the stock price in the short term as the lowered price target might cause some investors to sell, but the Strong Buy rating could also attract new investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100