JPMorgan sees the merits of a potential merger between Coterra Energy (CTRA) and Devon Energy (DVN). The combined company would have a sizeable position in the Delaware Basin “with significant overlap and synergy potential,” the analyst tells investors in a research note. JPMorgan sees the deal as modestly dilutive in 2026 but accretive in 2027, assuming an all-stock transaction with no premium. The firm’s analysis uses the undisturbed closing stock prices for both companies as of the January 14 close.
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