1 Wall Street Analyst Thinks Devon Energy Stock Is Going to $49. Is It a Buy?

Devon Energy (NYSE: DVN) stock has moved in line with oil prices this year. So it's no surprise that a decline in the latter has led to a sell-off in recent months. And that in turn has led to downbeat views from several Wall Street analysts.Analysts have been lowering price targets on Devon Energy in recent weeks, as oil prices have declined from the mid-$80s in the summer to $72. Most recently, Truist followed suit after several price target downgrades from JPMorgan, Mizuho, and Morgan Stanley.That said, all of these analysts have the equivalent of a buy rating on the stock. Furthermore, the Truist analyst believes the oil price will find support at $65 a barrel.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool