Devon Energy price target raised to $59 from $55 at Piper Sandler

Piper Sandler analyst Mark Lear raised the firm’s price target on Devon Energy (DVN) to $59 from $55 and keeps an Overweight rating on the shares. The firm says the rotation trade got a shot in the arm this week as war with Iran put 20% of global oil, product and gas supply at risk. While war has overshadowed Q4 results and FY26 outlooks, Piper anticipates little change from U.S. operators in the wake of the conflict.