There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Devon Energy (DVN) and Exelon (EXC) with bullish sentiments.
Devon Energy (DVN)
In a report released yesterday, William Janela from Credit Suisse maintained a Buy rating on Devon Energy, with a price target of $15.00. The company’s shares closed last Friday at $11.00.
According to TipRanks.com, Janela is a 4-star analyst with an average return of 19.5% and a 64.3% success rate. Janela covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Occidental Petroleum.
Currently, the analyst consensus on Devon Energy is a Strong Buy with an average price target of $15.88, a 46.5% upside from current levels. In a report issued on August 13, Piper Sandler also maintained a Buy rating on the stock with a $18.00 price target.
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Exelon (EXC)
In a report released yesterday, Michael Weinstein W. from Credit Suisse maintained a Buy rating on Exelon, with a price target of $44.00. The company’s shares closed last Friday at $36.87.
According to TipRanks.com, W. is a 5-star analyst with an average return of 26.3% and a 55.0% success rate. W. covers the Utilities sector, focusing on stocks such as Nextera Energy Partners, Pinnacle West Capital, and Consolidated Edison.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Exelon with a $45.86 average price target, which is a 24.3% upside from current levels. In a report issued on August 14, RBC Capital also maintained a Buy rating on the stock with a $46.00 price target.
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