Wells Fargo Maintains Equal-Weight on Devon Energy, Lowers Price Target to $48
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Roger Read has maintained an Equal-Weight rating on Devon Energy (NYSE:DVN) but has reduced the price target from $50 to $48.
November 22, 2023 | 3:05 pm
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Wells Fargo has maintained an Equal-Weight rating on Devon Energy and lowered the price target from $50 to $48.
The reduction in price target by Wells Fargo could lead to a negative perception among investors, potentially causing a short-term dip in DVN's stock price. However, since the rating remains unchanged at Equal-Weight, the impact might be moderate rather than severe.
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