Wall Street Analysts See a 39.02% Upside in Devon Energy (DVN): Can the Stock Really Move This High?

Core Viewpoint - Devon Energy (DVN) shares have increased by 1.4% recently, closing at $35.11, with a potential upside of 39$48.81 [1] Price Targets - The average of 26 short-term price targets ranges from a low of $42 to a high of$67, with a standard deviation of $5.46, indicating variability among analysts [2] - The lowest estimate suggests a 19.6% increase from the current price, while the highest estimate indicates a potential upside of 90.8% [2] Analyst Sentiment - Analysts show a consensus that DVN will report better earnings than previously estimated, which historically correlates with stock price increases [4][9] - The Zacks Consensus Estimate for the current year has risen by 1% over the past month, with six estimates increasing and three decreasing [10] Zacks Rank - DVN holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, suggesting a strong potential upside [11] Caution on Price Targets - While price targets are a common metric, they can mislead investors, as empirical research shows they rarely predict actual stock price movements [5][6] - A low standard deviation among price targets indicates a high degree of agreement among analysts, which can be a starting point for further research [7]