RBC Capital reiterated a Sector Perform rating and $42 price target on Devon Energy (DVN), noting that Bloomberg is reporting that Coterra (CTRA) is weighing a potential merger with Devon. The firm believes that if a merger were to occur, Devon would be the “surviving” company and there could be some streamlining of assets including evaluating monetization of the Anadarko and Appalachia positions.
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:
- Roth sees Coterra shares moving higher on Bloomberg report
- Coterra, Devon in talks about possible merger, Bloomberg reports
- Coterra Energy mulling potential merger with Devon Energy, Bloomberg says
- Unusually active option classes on open January 14th
- Devon Energy Sets Date for Fourth-Quarter 2025 Earnings Release and Investor Call