Devon Energy price target raised to $44 from $42 at Truist

Truist raised the firm’s price target on Devon Energy (DVN) to $44 from $42 but keeps a Hold rating on the shares. The company continues to deliver solid Permian results through operational efficiencies and enhancements, and the Bakken, with its recent notable addition, will play a large role in overall results, the analyst tells investors in a research note. Truist adds however that the Permian will continue to garner well over 50% of total capital investment, with 14 of the likely 22 total rigs continuing to operate in the play.