What changed in the DVN analyst rating on February 3, 2026?

On February 3, 2026, UBS reiterated **Buy** for DVN and Scotiabank maintained **Sector Perform** while raising its price target to **$45** from **$41**, reflecting mixed but steady analyst sentiment.

Does Scotiabank’s price target raise mean DVN is an upgrade?

No. Scotiabank **maintained Sector Perform** while increasing the DVN price target to **$45**, which updates valuation assumptions but does not constitute an upgrade.

How should investors interpret UBS’s reiterated Buy for DVN?

UBS’s reiterated Buy signals continued conviction in Devon Energy’s outlook, especially tied to merger prospects. Investors should weigh that view against merger execution risk and commodity price exposure.

Where can I find the original analyst notes for DVN analyst rating updates?

See the published items cited here: UBS coverage on StreetInsider and Scotiabank’s note on TheFly. Links are embedded in the article for quick reference.

Analyst Ratings

UBS Keeps Buy, Scotiabank Keeps Sector Perform on Devon Energy (DVN) Feb 2026

ByDanny Kontos February 4, 2026February 4, 2026

On February 3, 2026, two major firms maintained their views on Devon Energy Corporation, keeping the spotlight on the DVN analyst rating. UBS reiterated Buy following the Coterra merger announcement, and Scotiabank kept Sector Perform while raising its price target to $45 from $41. These concurrent actions cement short-term analyst sentiment and give investors clearer price guidance as they weigh merger effects.