3 Downgraded Names You Can Buy Into

Devon Energy: Beaten Down and Underappreciated

Devon Energy, an independent energy operator in the U.S., has experienced a significant downturn in its stock price over the past year due to the decline in oil prices and demand outlook. This has led to 51 negative or bearish revisions in 2023, including a 30% decline in the MarketBeat.com consensus price target. While the downward action in the price target has contributed to the stock’s downtrend, the market seems to have underestimated Devon Energy’s potential.