Goldman Views Devon as Valuation Opportunity with Strong Shareholder Returns
Goldman analyst Neil Mehta argues that the energy rally has shifted focus toward valuation, highlighting Devon Energy’s Delaware Basin exposure and an estimated attractive free-cash-flow yield. The thesis also centers on Devon’s plan to return up to 70% of free cash flow through a fixed dividend and an $8 billion share-repurchase authorization, with Mehta citing an implied 12% upside versus a $55 target.