There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on American Water (AWK) and Devon Energy (DVN) with bullish sentiments.
American Water (AWK)
In a report released yesterday, Durgesh Chopra from Evercore ISI reiterated a Buy rating on American Water, with a price target of $157.00. The company’s shares closed last Wednesday at $153.06.
According to TipRanks.com, Chopra is a 3-star analyst with an average return of 11.6% and a 71.4% success rate. Chopra covers the Utilities sector, focusing on stocks such as American Electric Power, Edison International, and Centerpoint Energy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for American Water with a $162.38 average price target, implying a 5.2% upside from current levels. In a report issued on April 26, HSBC also maintained a Buy rating on the stock with a $183.00 price target.
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Devon Energy (DVN)
In a report released yesterday, Stephen Richardson from Evercore ISI maintained a Buy rating on Devon Energy, with a price target of $28.00. The company’s shares closed last Wednesday at $25.23, close to its 52-week high of $26.13.
According to TipRanks.com, Richardson has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -3.9% and a 45.5% success rate. Richardson covers the Utilities sector, focusing on stocks such as Royal Dutch Shell A, Cabot Oil & Gas, and Pioneer Natural.
Currently, the analyst consensus on Devon Energy is a Strong Buy with an average price target of $29.43, a 22.4% upside from current levels. In a report issued on April 20, Mizuho Securities also maintained a Buy rating on the stock with a $29.00 price target.
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