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UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Devon Energy Corporation

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Credit Suisse Reiterates Outperform, Raises PT On Devon Energy On Lower Estimates
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What's Ahead For Devon Energy? (Seeking Alpha)

In a report published Friday, Jefferies & Company reiterated its Buy rating on Devon Energy Corporation (NYSE: DVN), but lowered its price target from $76.00 to $71.00.

Jefferies noted, “Devon continues to look attractive on P1 value and remain Buy rated for that reason. However, patience is needed. For the valuation gap to close, at least one asset has to emerge as a key growth driver. In DVN's portfolio, one would have to bet on the Cline shale, but it is still a work in progress.”

Devon Energy Corporation closed on Thursday at $54.19.

Latest Ratings for DVN

DateFirmActionFromTo
Mar 2015Credit SuisseMaintainsOutperform
Feb 2015JefferiesMaintainsBuy
Feb 2015Deutsche BankMaintainsBuy

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