Analysts have been eager to weigh in on the Materials sector with new ratings on Devon Energy (DVN), Inter Pipeline (IPPLF) and Valero Energy (VLO).
Devon Energy (DVN)
RBC Capital analyst Scott Hanold maintained a Hold rating on Devon Energy on March 30 and set a price target of $13.00. The company’s shares closed last Tuesday at $6.91, close to its 52-week low of $4.70.
According to TipRanks.com, Hanold has currently no stars on a ranking scale of 0-5 stars, with an average return of -17.5% and a 29.3% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development, Southwestern Energy, and Matador Resources.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Devon Energy with a $17.60 average price target, which is a 177.2% upside from current levels. In a report issued on March 16, Goldman Sachs also upgraded the stock to Hold with a $10.00 price target.
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Inter Pipeline (IPPLF)
In a report issued on March 30, Robert Kwan from RBC Capital maintained a Hold rating on Inter Pipeline, with a price target of C$9.00. The company’s shares closed last Tuesday at $5.70, close to its 52-week low of $3.74.
According to TipRanks.com, Kwan is a 5-star analyst with an average return of 8.3% and a 66.1% success rate. Kwan covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, Fortis, and Emera.
The word on The Street in general, suggests a Hold analyst consensus rating for Inter Pipeline with a $10.65 average price target, which is a 92.6% upside from current levels. In a report released yesterday, Raymond James also upgraded the stock to Hold with a C$10.00 price target.
Valero Energy (VLO)
In a report issued on March 29, Brad Heffern from RBC Capital maintained a Buy rating on Valero Energy, with a price target of $59.00. The company’s shares closed last Tuesday at $45.36.
According to TipRanks.com, Heffern is a 1-star analyst with an average return of -4.3% and a 39.1% success rate. Heffern covers the Basic Materials sector, focusing on stocks such as Continental Resources, Par Pacific Holdings, and Extraction Oil & Gas.
Valero Energy has an analyst consensus of Strong Buy, with a price target consensus of $83.33, representing a 76.6% upside. In a report issued on March 16, Morgan Stanley also maintained a Buy rating on the stock with a $65.00 price target.
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