JP Morgan sees DVN as attractive
Posted: Thu Jan 07, 2016 9:01 am
Devon Energy shares offer attractive entry point, says JPMorgan
JPMorgan analyst Arun Jayaram says the recent underperformance in shares of Devon Energy following the $2.5B Felix and PRB acquisitions provides an attractive entry point into the name. All signs point to a deleveraging catalyst early this year with the monetization of the Access Pipeline, which could fetch up to $1B or more, Jayaram tells investors in a research note. He lowered his price target for Devon shares to $42 from $46 and keeps an Overweight rating on the name. :theflyonthewall.com
JPMorgan analyst Arun Jayaram says the recent underperformance in shares of Devon Energy following the $2.5B Felix and PRB acquisitions provides an attractive entry point into the name. All signs point to a deleveraging catalyst early this year with the monetization of the Access Pipeline, which could fetch up to $1B or more, Jayaram tells investors in a research note. He lowered his price target for Devon shares to $42 from $46 and keeps an Overweight rating on the name. :theflyonthewall.com