Wells Fargo Upgrades Devon Energy to Overweight, Raises Price Target to $59
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Roger Read has upgraded Devon Energy (NYSE:DVN) from Equal-Weight to Overweight and increased the price target from $46 to $59.
April 01, 2024 | 3:39 pm
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POSITIVE IMPACT
Devon Energy upgraded by Wells Fargo from Equal-Weight to Overweight with a price target increase from $46 to $59.
The upgrade from Equal-Weight to Overweight by a major financial institution like Wells Fargo, accompanied by a significant increase in the price target, is a strong positive signal for Devon Energy. This suggests a bullish outlook on the stock by the analyst, which could lead to increased investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100