- The shares of Devon Energy Corp (NYSE: DVN) have received a price target increase from $22 to $27 by Barclays. These are the details.
The shares of Devon Energy Corp (NYSE: DVN) have received a price target increase from $22 to $27 by Barclays. And Barclays analyst Jeanine Wai is maintaining an “Overweight” rating on the company shares.
Wai’s report reflects the rolling forward of the company’s model and accelerates medium-term growth due to a constructive macro outlook.
Wai’s report is not the only recent bullish outlook on DVN shares. Northland analyst Subash Chandra also recently increased the price target on DVN from $20 to $27 and maintained an “Outperform” rating on the shares. Even though Chandra reduced the company’s Q1 EPS estimates to reflect weather disruptions, he believes that the shares will shrug it off. And Chandra believes that DVN is in a position to boost its variable dividend program starting in Q2.
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