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Upgrade on DVN 72.14 close: Devon Energy upped at Deutsche Bank, Jack discovery cited

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Last Update: 5:43 AM ET Sep 6, 2006


LONDON (MarketWatch) -- Deustche Bank upgraded Devon Energy (DCN : DCN
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12:00am 12/30/1899

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DCN0.00, 0.00, 0.0%) to buy from hold and raised its target price to $80 from $61, saying the results of the group's extended production test on Chevron's Jack discovery in the deepwater Gulf of Mexico appears to have been worth the wait. The broker told clients that as the leading independent acreage holder in the deepwater gulf, Devon looks well positioned to benefit from this developing play.
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