Morgan Stanley Upgrades Devon Energy to Overweight, Raises Price Target to $52
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Devin McDermott upgraded Devon Energy (NYSE:DVN) from Equal-Weight to Overweight and increased the price target from $48 to $52.
December 11, 2023 | 12:54 pm
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Devon Energy was upgraded by Morgan Stanley from Equal-Weight to Overweight with a price target raised from $48 to $52.
Upgrades by major analysts like Morgan Stanley typically lead to a positive short-term reaction in the stock price as market sentiment improves. The increase in the price target further reinforces the bullish outlook for the stock.
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