Stifel Maintains Buy on Devon Energy, Lowers Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
Stifel analyst Derrick Whitfield maintains a Buy rating on Devon Energy (DVN) but lowers the price target from $75 to $65.

March 22, 2024 | 1:31 pm
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NEUTRAL IMPACT
Stifel maintains a Buy rating on Devon Energy but lowers the price target from $75 to $65.
While the reduction in price target from $75 to $65 by Stifel could be seen as a negative signal, the maintenance of a Buy rating suggests that the analyst still sees positive potential in DVN's stock. This mixed signal might lead to short-term uncertainty among investors, potentially causing minor fluctuations in the stock price. However, the continued endorsement from a reputable analyst could help mitigate any negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100