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published in Blogs
Jun 01, 2021
Devon Energy (DVN, $29.67) gets rating hike and price target boost at Raymond James

Devon Energy (DVN, $29.67) gets rating hike and price target boost at Raymond James

Devon Energy   shares rose Tuesday, following a rating upgrade and price target increase by  Raymond James analyst.

 Analyst John Freeman boosted rating on the energy company’s shares to strong buy from outperform.  Freeman hiked his price target to $40 from $34.

Freeman mentioned that the solid performance of Devon's Delaware wells offer opportunities for productivity gains – something that would boost Devon's free-cash-flow-to-enterprise-value ratio, which could lead toa a higher dividend yield, according to Freeman .

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