Devon Energy price target lowered to $42 from $43 at Truist

Truist analyst Neal Dingmann lowered the firm’s price target on Devon Energy (DVN) to $42 from $43 and keeps a Hold rating on the shares as part of a broader research note updating the firm’s model with 2026 expectations. Truist sees sequentially higher estimated 2026 earnings and free cash flows based on minimally lower commodity prices, minimally higher production, flat costs, minimal asset degradation, and minimal to moderate operational efficiencies, adding that it sees commodity prices – oil and natural gas – remaining firmer this year than many investors currently expect.