Scotiabank Maintains Sector Outperform on Devon Energy, Lowers Price Target to $48
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Paul Cheng maintains a Sector Outperform rating on Devon Energy but lowers the price target from $60 to $48.
October 10, 2024 | 5:12 pm
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Scotiabank has maintained its Sector Outperform rating for Devon Energy but has reduced the price target from $60 to $48, indicating a more cautious outlook.
The reduction in the price target from $60 to $48 suggests a less optimistic view on Devon Energy's short-term performance, which could lead to a negative impact on the stock price. However, the maintained Sector Outperform rating indicates continued confidence in the company's relative performance within its sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100