JPMorgan analyst Arun Jayaram downgraded Devon Energy (DVN) to Neutral from Overweight with a $43 price target The shares did not respond to Devon’s positive operational updates in 2024, and compares are tougher in 2025 given its strong well productivity, the analyst tells investors in a research note. The firm also sees a “sizable” private equity overhang from the Grayson Mill deal.
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