BofA lowered the firm’s price target on Devon Energy (DVN) to $42 from $52 and keeps a Buy rating on the shares. Following the lead set by the firm’s commodity research team, the analyst lowered the Q2-Q4 2025 WTI oil deck to $57 per barrel from $64.50, noting that the firm’s house view anticipates the biggest negative impact on oil prices in Q2. Lower oil prices reduce valuations across the analyst’s coverage by an average of 25%, the firm noted.
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Read More on DVN:
- Devon Energy’s Strategic Optimization Plan Drives Buy Rating and Market Advantage
- Devon Energy price target raised to $56 from $54 at Piper Sandler
- Devon Energy price target lowered to $38 from $44 at Barclays
- Devon Energy Launches $1 Billion Business Optimization Plan
- Devon Energy price target lowered to $41 from $52 at Susquehanna
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