Devon Energy price target lowered to $67 from $80 at Raymond James

Raymond James analyst John Freeman lowered the firm’s price target on Devon Energy to $67 from $80 and keeps a Strong Buy rating on the shares. Devon was a major underperformer after its earnings release, and its Q4 results were weaker than expected, even after pre-releasing production, due to production being gassier than anticipated, the analyst tells investors in a research note.