10 Stocks That Received Analyst Approval This Week

5. Devon Energy Corporation (NYSE:DVN)

Devon Energy Corporation is an independent energy company that operates in the U.S. It is involved in the development, exploration, and production of natural gas liquid, oil, and natural gas. DVN was upgraded by Bernstein from Market Perform to Outperform with a target price of $45.

The Bernstein team projected sustainable growth in liquefied natural gas exports from 2024 to 2030. Regardless of a 23% decrease in 3rd quarter earnings, the company is expected to gain 13% in the upcoming fourth-quarter earnings. The firm is highly profitable at current oil price levels which have shot up 8% in the last week alone. Also, the stock is offering an attractive valuation at these levels. It is an attractive option for investors who want to gain exposure to surging energy markets.