Devon Energy has received a series of analyst updates. On June 29, 2026, Morgan Stanley lowered its price target to $63 from $66 while maintaining an Overweight rating, citing declining oil prices after a U.S.-Iran memorandum of understanding. On June 24, Goldman Sachs reinstated coverage with a Buy rating and a $54 price target, highlighting the company's Delaware Basin optimization, expected $1.0 billion in run-rate merger synergies by 2027-end, and a capital return framework of up to 70% of free cash flow. Earlier, on June 15, Raymond James reduced its target to $66 from $72 but kept a Strong Buy rating, noting that portfolio rationalization could help narrow the valuation gap.
Devon Energy CorporationMultiple analyst rating changes and price target adjustments with mixed signals (some downgrades, some upgrades) create an ambiguous net impact.