Devon Energy Gets A Boost from Citi And BofA On Home Furnishing Stocks

TheStreet
Citi (C) is upgrading Devon Energy (DVN) to a Buy rating and raising its price target to $96 from $75 per share. The firm likes the energy company from Oklahoma City on its "increases in production and a strong balance sheet." Bank of America (BAC) is making two very different calls in the home furnishing space. Bank of America is downgrading Bed, Bath and Beyond (BBBY)to Underperform from Neutral. The price target was also dropped to $51 from $63 per share. Meanwhile, Bofa is upgrading Williams-Sonoma (WSM) to a Buy from Neutral. The price target is also raised to $82 from $70. Bank of America says its positive view stems from "improved visibility and solid execution." TheStreet's Susannah Lee has the details from Wall Street.
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