JPMorgan lifts Devon Energy price target to $68 and keeps Overweight rating
JPMorgan raised its price target for Devon Energy to $68, up from $65, while maintaining an Overweight rating. The analyst highlighted the company's strong acreage in the Delaware Basin, Marcellus, Bakken and optionality to the STACK and Powder River Basin plays. Devon Energy reported third‑quarter 2026 revenue of $6.86 billion, beating estimates, but earnings per share of $0.88 missed the $1.27 forecast. The stock was trading at $42.21 at the time of the note.
Why it matters
JPMorgan’s higher target implies a potential upside of about 61% from the current price, which may attract buying interest. The firm’s view of attractive valuation and strong asset base could support the stock’s momentum.
Key facts
- 1JPMorgan raised its price target for Devon Energy to $68 from $65. investing.com
- 2The analyst kept an Overweight rating on the stock. investing.com
- 3Devon Energy’s free cash flow yield stands at 4% and its P/E ratio is 9.1. investing.com
- 4The company’s third‑quarter 2026 revenue was $6.86 billion, above the $6.48 billion estimate. investing.com
- 5Earnings per share for Q3 2026 were $0.88, missing the $1.27 forecast. investing.com
- 6Devon Energy’s stock was trading at $42.21 when the note was issued. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.