ETF Performance Analysis: The Fidelity MSCI Energy Index ETF (FENY) has an implied analyst target price of $28.30 per unit, indicating a potential upside of 15.64% from its current trading price of $24.47.
Notable Holdings with Upside: Key underlying holdings of FENY, such as NextDecade Corp (NEXT), Helix Energy Solutions Group Inc (HLX), and Devon Energy Corp (DVN), show significant upside potential based on analyst target prices, with NEXT having a target of $9.67 (65.80% upside), HLX at $10.00 (42.86% upside), and DVN at $44.85 (36.02% upside).
Analyst Target Justification: The article raises questions about whether analysts' target prices are justified or overly optimistic, suggesting that high targets relative to current prices could lead to potential downgrades if they are based on outdated information.
Investor Research Recommendation: Investors are encouraged to conduct further research to assess the validity of analysts' targets in light of recent developments in the companies and the energy industry.
Wall Street analysts forecast DVN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DVN is 43.25 USD with a low forecast of 35.00 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
21 Analyst Rating
Wall Street analysts forecast DVN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DVN is 43.25 USD with a low forecast of 35.00 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Buy
4 Hold
0 Sell
Strong Buy
Current: 37.750
Low
35.00
Averages
43.25
High
55.00
Current: 37.750
Low
35.00
Averages
43.25
High
55.00
Barclays
Equal Weight
maintain
$40 -> $42
2026-01-21
New
Reason
Barclays
Price Target
$40 -> $42
AI Analysis
2026-01-21
New
maintain
Equal Weight
Reason
Barclays raised the firm's price target on Devon Energy to $42 from $40 and keeps an Equal Weight rating on the shares. The firm adjusted ratings and targets in the exploration and production group as part of a Q4 preview. The upstream sector's cash return model "remains resilient" amid macro volatility, the analyst tells investors in a research note. Barclays see attractive opportunities in U.S. onshore. It tells investors to "tread carefully" through the near-term commodity uncertainty.
Scotiabank
Outperform -> Sector Perform
downgrade
$47 -> $41
2026-01-16
Reason
Scotiabank
Price Target
$47 -> $41
2026-01-16
downgrade
Outperform -> Sector Perform
Reason
As previously reported, Scotiabank downgraded Devon Energy to Sector Perform from Outperform with a price target of $41, down from $47. Devon was the best-performing stock among the analyst's E&P coverage in 2025 and as a result of the strong outperformance, the shares' valuation have fallen to the middle of the pack when compared to other "second tier E&P companies," the analyst tells investors. Though the firm expects further improvement from self-help initiatives, it believes the bulk of the positive news has already been reflected in last year's outperformance, the analyst added.
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BofA
Buy
maintain
$45 -> $46
2026-01-16
Reason
BofA
Price Target
$45 -> $46
2026-01-16
maintain
Buy
Reason
BofA raised the firm's price target on Devon Energy to $46 from $45 and keeps a Buy rating on the shares. For 2026, the firm remains cautious on the oil backdrop and continues to favor companies with resilient portfolios and low breakevens that fully cover capex and dividends in this environment, the analyst tells investors.
Bernstein
Outperform
to
NULL
downgrade
$48 -> $42
2026-01-05
Reason
Bernstein
Price Target
$48 -> $42
2026-01-05
downgrade
Outperform
to
NULL
Reason
Bernstein lowered the firm's price target on Devon Energy to $42 from $48 and keeps an Outperform rating on the shares. The firm begins 2026 with a balanced view for oil. Bernstein expects choppiness in the near term and sees strength in the longer term.
About DVN
Devon Energy Corporation is an oil and gas producer in the United States with a diversified multi-basin portfolio headlined by an acreage position in the Delaware Basin. The Company is primarily engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). It owns a portfolio of assets located in the Delaware Basin, Rockies, Eagle Ford and Anadarko Basin. The Delaware Basin operates in southeast New Mexico and across the state line into west Texas. It offers exploration and development opportunities from many geologic reservoirs and play types, including the oil-rich Wolfcamp, Bone Spring, Avalon and Delaware formations. Its Rockies development consists of its Williston Basin and Powder River Basin assets. The Eagle Ford operations are located in Texas' DeWitt and Karnes counties. The Anadarko Basin development is located in western Oklahoma. It has a joint venture with Dow to develop a portion of its Anadarko Basin acreage.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
