Stifel Maintains Buy on Devon Energy, Lowers Price Target to $75
Portfolio Pulse from Benzinga Newsdesk
Stifel analyst Derrick Whitfield has maintained a Buy rating on Devon Energy (NYSE:DVN) but has reduced the price target from $77 to $75.
January 23, 2024 | 5:36 pm
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NEUTRAL IMPACT
Stifel maintains a Buy rating on Devon Energy but lowers the price target from $77 to $75, indicating a positive outlook with a slightly reduced growth expectation.
The maintenance of a Buy rating suggests that Stifel's outlook on Devon Energy remains positive, indicating continued confidence in the company's fundamentals and potential for growth. However, the reduction in the price target, albeit slight, may reflect a tempered expectation for the stock's performance or a response to market conditions. This could lead to a neutral short-term impact on the stock price as the positive rating is counterbalanced by the lower price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100