Wells Fargo analyst Hanwen Chang raised the firm’s price target on Devon Energy (DVN) to $43 from $42 and keeps an Overweight rating on the shares supported by steady volumes, disciplined capital allocation, and strong free cash flow outlook. Progress on business optimization, improved price realizations, and favorable cash tax dynamics reinforce balance sheet strength and shareholder returns, the firm adds.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DVN:
- Devon Energy Reports Strong Q2 Results and Strategic Moves
- Early notable gainers among liquid option names on August 6th
- LandBridge announces long-term surface use, pore space deal with Devon
- Devon Energy’s Enhanced 2025 Outlook and Strategic Moves Justify Buy Rating Despite Short-term Misses
- Devon Energy: Balancing Operational Success with Market Challenges – Hold Rating Maintained