Mizuho Raises Devon Energy (DVN) Price Target as Higher Oil Prices Support Outlook

Mizuho expert Nitin Kumar raised the firm’s terms proposal connected Devon Energy Corporation (NYSE:DVN) to $68 from $62 connected May 27. He reiterated an Outperform standing connected the shares. The steadfast expects the effects of the Iran situation connected planetary lipid prices and refining margins to persist for immoderate time. Mizuho accrued its 2026 lipid terms forecast by 25% and its 2027 outlook by 6%. It besides raised its projections for US refining cracks by 61% for 2026 and 51% for 2027. According to the analyst, a diminution successful banal valuations contempt beardown commodity prices has created an accidental for investors to question “alpha” successful the US lipid and state sector. Mizuho besides updated ratings and terms targets crossed the group.

On May 26, Barclays raised its terms extremity connected Devon Energy to $62 from $54. It kept an Overweight standing connected the stock. The steadfast said declining inventories, reduced OPEC spare capacity, and a “muted” US accumulation effect to the Middle East struggle are contributing to a tighter lipid marketplace backdrop that is not yet afloat reflected successful vigor stocks. Barclays believes these conditions could pb to a stock re-rating for oil-focused exploration and accumulation companies aft the conflict. The steadfast besides lowered its near-term state terms outlook owed to oversupply and adjusted ratings and terms targets crossed the integrated lipid and exploration and accumulation sector.

Devon Energy Corporation (NYSE:DVN) is simply a US lipid and state shaper with a diversified multi-basin portfolio. Its operations are anchored by a important acreage presumption successful the Delaware Basin.

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