Devon Energy shares could rise 25 percent or more: Barron's

Reuters

NEW YORK, Nov 10 (Reuters) - Devon Energy Corp's stock could rise 25 percent or more to exceed $80 per share asthe U.S. oil and gas producer reaps the benefit of retoolingitself to hunt for more oil, Barron's wrote in its Nov. 11edition.

The company, hurt by a drop in natural-gas prices, has beenselling its offshore energy operations in places includingBrazil and China, and gradually repatriating money back to theUnited States, where it is focusing on higher-priced crude oiland taking advantage of its expertise in horizontal drilling,the financial weekly wrote.

Devon Energy closed at $60.11 Friday on the New York StockExchange.

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