Devon Energy Soars on Analyst Upgrades, Iran Conflict
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Devon Energy stock surges on analyst upgrades and soaring oil prices, driven by the Iran conflict. Raymond James raises price target to $62, TD Cowen to $50, both maintaining outperform and hold ratings respectively. Devons Q4 revenue beats estimates, adjusted EPS at $0.82, and free cash flow up 9%. The companys merger with Coterra Energy, set for Q2 2026, could create a top US producer with $1B annual synergies by 2027. However, war uncertainty persists, potentially keeping oil prices high and supporting gains, or reversing them quickly. Devon currently near 52-week high with a modest P/E ratio of 11.
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