Devon Energy: analyst recommendations for cheap large cap stocks

What happened: On April 7, 2026, BMO Capital raised its price target on Devon Energy (DVN) to $60, maintaining an Outperform rating. This followed Devon being named among the 8 Cheap Large Cap Stocks to Buy Now. Meanwhile, on April 13, Citi analyst Vikram Bagri raised Delek US (DK) to $44, keeping a Neutral rating, after DK was included in the 13 Best Crude Oil Stocks to Buy. DVN also appeared in the 12 Most Undervalued Natural Gas Stocks list.

Market impact: This narrative highlights a shift in analyst sentiment towards undervalued large-cap energy stocks, particularly DVN and DK, following recent price target increases. This could drive investment in these stocks, potentially boosting their share prices and influencing broader energy sector sentiment.

What to watch next: Upcoming catalysts include Devon Energy's Q2 earnings release on July 28, 2026, and any further analyst rating changes or price target adjustments for DVN and DK. Additionally, monitor crude oil and natural gas prices, as they significantly impact these companies' valuations and operations.