Morgan Stanley raised the firm’s price target on Devon Energy (DVN) to $52 from $51 and keeps an Overweight rating on the shares. E&Ps posted strong Q3 updates, highlighting both capital efficiency gains and potential cost deflation as tailwinds for 2025, the analyst tells investors. Most in the firm’s coverage are still planning for low or no growth, while some gas activity may be deferred until prices recover more, Scotiabank adds.
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Read More on DVN:
- Devon Energy price target raised to $57 from $56 at Piper Sandler
- Omega exits stakes in Devon, Las Vegas Sands, KBR, and Paramount Global
- Devon Energy price target lowered to $49 from $50 at Wells Fargo
- Devon Energy downgraded to Hold from Buy at Truist
- Devon Energy Reports Strong Q3 2024 Results
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