Devon Energy price target lowered to $47 from $49 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Devon Energy (DVN) to $47 from $49 and keeps an Overweight rating on the shares. The firm is updating its price targets for Energy in the North America stock under its coverage, the analyst tells investors. The firm expects “clean” Q3 operational updates, but cash flow will likely be generally below consensus due to weaker gas and NGL realizations.