Devon Energy Stock Has 42% Upside, According to 1 Wall Street Firm

This is one of those unusual situations whereby a Wall Street firm lowers its price target on the stock, but even the lowered price target still implies a 42% upside for the stock. That happened recently when Siebert Williams Shank lowered its price target on Devon Energy (NYSE: DVN) from $58 to $50 while maintaining a buy rating on the stock. The case for lowering the price target is entirely plausible. President Donald Trump has called for lower prices, OPEC+ has agreed to raise production, there are fears of lower global growth induced by the ongoing tariff conflict, and the new administration is encouraging oil production in the U.S. While the bearish case for oil is valid, it's a good idea to point out two things:Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool