Devon Energy price target raised to $64 from $62 at JPMorgan

JPMorgan raised the firm’s price target on Devon Energy to $64 from $62 and keeps an Overweight rating on the shares. The analyst anticipates an “upbeat” Q2 print from Devon, but notes the firm’s updated Q3 oil production forecast is below the Street owing to lower Delaware Basin activity. The firm cites an increase in commodity prices for the target increase.