Read How Analysts Reacted To Devon Energy's RimRock Transaction
Mizuho Securities analyst Vincent Lovaglio raised the price target for Devon Energy Corp (NYSE:DVN) to $94 (an upside of 28%) from $92, reflecting the $865 million Rim Rock acquisition. The analyst states that the transaction adds 15kboed and 38k net acres to the company's existing 48kboed and 85k net acre Bakken position at ~4x free cash…
Benzinga ·