Piper Sandler Maintains Overweight on Devon Energy, Lowers Price Target to $59
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Mark Lear has maintained an Overweight rating on Devon Energy (NYSE:DVN) but has reduced the price target from $61 to $59.
January 24, 2024 | 1:53 pm
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Piper Sandler has maintained its Overweight rating on Devon Energy but lowered the price target from $61 to $59, indicating a positive outlook with a slightly reduced growth expectation.
While the Overweight rating suggests that Piper Sandler is still bullish on Devon Energy's prospects, the reduction in the price target could imply a more conservative view on the stock's growth potential in the short term. This might lead to a neutral short-term impact on the stock price as the market digests the slightly lowered expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100