Wells Fargo lowered the firm’s price target on Devon Energy to $57 from $60 and keeps an Overweight rating on the shares. The firm expects upbeat Q2 op results with in-line financials. The pending Grayson Mill deal is accretive to Wells’ 2025/2026 free cash flow/EV and CFPS estimates but neutral to EV/EBITDAX and NAV/share, Wells adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DVN:
- Devon Energy reinstated with a Peer Perform at Wolfe Research
- Devon Energy initiated with a Peer Perform at Wolfe Research
- Devon Energy stock deserves another look after post-deal decline, Barron’s says
- Devon Energy price target lowered to $60 from $67 at Scotiabank
- Devon Energy call volume above normal and directionally bullish