Analyst PT lifts cluster amid oil/merger rally vs valuation counters/Wolfe top pick
Key Questions
What is the average analyst price target for Devon Energy (DVN)?
The average price target for DVN is around $51-57, with MarketBeat consensus at $51 implying over 31% upside. Specific targets include BMO at $60 (up from $45), Wolfe at $65 (up from $64), MS at $59, and Citi at $60.
What ratings do analysts give to Devon Energy stock?
DVN has a Moderate/Strong Buy consensus from over 36 analysts. Wolfe Research maintains an Outperform rating and named it a top oil stock on April 6. Zacks ranks it #3 with expected EPS of $4.76 and 29% revenue growth.
Why have energy stocks like DVN rallied recently?
A surge in oil prices driven by Trump's Iran threat has boosted energy stocks, including DVN. Geopolitical tensions in the Middle East and potential merger activity are also contributing to the positive momentum.
What is Wolfe Research's price target and view on DVN?
Wolfe Research raised its price target for DVN to $65 from $64 and maintains an Outperform rating. They highlighted DVN as a top oil stock amid market volatility.
Which firms recently raised price targets for DVN?
BMO Capital raised its target to $60 from $45 while maintaining a Buy rating. Citi raised DVN's target from $44 to $60, and Wolfe adjusted to $65 from $64.
Are there any conflicting analyst views on DVN valuation?
While most targets suggest significant upside, SWSt has a lower target of $44.34. Recent momentum clashes with narratives of DVN being 10% overvalued.
What upside potential do analysts see for DVN?
Analyst targets range from $59-67, implying strong upside from current levels around $50. MarketBeat's $51 target suggests over 31% potential gain.
What other positive factors are mentioned for DVN?
Institutional investors are increasing stakes amid favorable conditions and merger prospects. Smartkarma rates it 3.2, and Motley Fool notes outperformance potential.
PT avg ~$51-57 Moderate/Strong Buy (36+/BMO $60 from $45/Wolfe $65 from $64 Apr 6 top oil stock/MS $59/Citi $60 from $44/Cap One $64 etc.)/MarketBeat $51 Moderate (31%+ upside); clashes SWSt $44.34; Zacks #3 EPS $4.76 (+29% revs)/oil/merger/ME $59-67 upside/Smartkarma 3.2/Motley Fool outperformance.