UPDATE: Morgan Stanley Reiterates On Devon Energy Following Non-Core Assets Sale

In a report published Tuesday, Morgan Stanley analyst Evan Calio reiterated an Equal-Weight rating on

, and raised the price target from $88.00 to $89.00. In the report, Morgan Stanley noted, “DVN sells U.S. non-core assets for $2.3Bn. The deal covers the remaining identified assets to divest and allows increased focus on DVN's three key assets: Eagle Ford, Permian, and Canadian Thermal. The Cana and Powder River provide a strong supporting bench for the 20% oil grower within CF.” Devon Energy closed on Monday at $79.40.