Devon Energy Gains Upward Price Targets

Analysts at Barclays and Piper Sandler raised price targets for Devon Energy (NYSE:DVN) on March 13 and March 12, lifting targets to $54 (from $52) and $67 (from $59), respectively. Both firms cited the Iran conflict and higher 2026 oil and mid-cycle crude forecasts (to $75 per barrel) as underappreciated cash-flow tailwinds for exploration and production companies, noting Devon's major U.S. basin operations.