Morgan Stanley Maintains Overweight on Devon Energy, Lowers Price Target to $51
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley has maintained an Overweight rating on Devon Energy but has lowered the price target from $55 to $51.
September 16, 2024 | 4:46 pm
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Morgan Stanley has maintained an Overweight rating on Devon Energy, indicating continued confidence in the stock, but has lowered the price target from $55 to $51, suggesting a more conservative outlook on its potential upside.
The Overweight rating suggests that Morgan Stanley still sees potential in Devon Energy, but the lowered price target indicates a tempered expectation for its short-term performance. This mixed signal may lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100