Scotiabank Lowers Devon Energy (DVN) Price Target, Sees Balanced Risk-Reward Outlook

NodeGuardian · 2026-03-01T08:12:21+00:00

Scotiabank has reduced its price target for Devon Energy to $41, maintaining a "Sector Perform" rating. The company needs to show consistent outperformance to ease investor concerns, while the upcoming merger with Coterra Energy is expected to enhance long-term value and shareholder returns.

NodeGuardian

2026-03-01 08:12:21

Abstract generation in progress

Scotiabank has lowered its price target for Devon Energy (DVN) to $41 from $45, while reiterating a “Sector Perform” rating, seeing a balanced risk-reward outlook. The analyst noted that Q4 results are expected to have a neutral near-term impact, and the company will need to demonstrate consistent outperformance to alleviate investor concerns regarding its Delaware Basin exposure and drilling inventory backlog. Devon Energy’s President and CEO highlighted the upcoming merger with Coterra Energy, expecting it to create stronger long-term value, with over $1 billion in annual pretax synergies by the end of 2027 and increased shareholder returns.

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