Susquehanna analyst Biju Perincheril raised the firm’s price target on Devon Energy to $65 from $52 and keeps a Positive rating on the shares. The firm updated its estimates for their E&P sector by lowereing natual gas assumptions and maintaining oil prices. For 2024, they expect companies will continue their maintenance capital programs, while focusing on driving improving well productivity. Susquehanna also expects M&A activity to continue as companies look to shore up inventory positions.
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