JP Morgan Upgrades Devon Energy to Overweight, Raises Price Target to $58
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Arun Jayaram has upgraded Devon Energy (NYSE:DVN) from Neutral to Overweight and increased the price target from $57 to $58. This reflects a positive outlook on the company's stock by the analyst.
December 06, 2023 | 2:57 pm
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Devon Energy was upgraded by JP Morgan from Neutral to Overweight with a price target raised to $58, indicating a favorable analyst outlook which could positively influence the stock's performance in the short term.
Analyst upgrades typically lead to a positive short term reaction in the stock market as they suggest improved fundamentals or potential outperformance. The increase in price target further reinforces the positive sentiment towards Devon Energy's stock.
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IMPORTANCE 85
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