Devon Energy initiated with a Buy at Roth Capital

Roth Capital initiated coverage of Devon Energy (DVN) with a Buy rating and $42 price target The company’s asset footprint provides above average drilling returns, low leverage metrics give it flexibility, while free cash flow generation provides Devon with the ability to be nimble as it attempts to maximize value on its assets in core areas of the Delaware Basin of the Permian and in the Bakken in North Dakota, the analyst tells investors in a research note.