BofA analyst Kalei Akamine raised the firm’s price target on Devon Energy (DVN) to $57 from $53 and keeps a Buy rating on the shares. The firm is updating its price targets for U.S. Oil and Gas stocks under its coverage, the analyst tells investors. BofA believes the market is positioned for de-escalation and sees a forward outlook marked by flare-ups and heightened geopolitical risks. The firm continues to favor stories that are more than only oil beta, naming Devon Energy as one of its top ideas in the space.
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