12 Strong Buy Stocks with High Upside According to Analysts

10. Devon Energy Corporation (NYSE:DVN)

Upside Potential: 40.92%

On July 9, Truist lowered its price target on Devon Energy Corporation (NYSE:DVN) to $61 from $66 while maintaining a Buy rating ahead of the company’s second-quarter results. The firm expects the upcoming quarter to provide investors with the first detailed look at the newly combined organization following its recent acquisition activity. According to Truist, management discussions are likely to focus on planned asset divestitures, with executives previously indicating that sales could occur within months rather than years. The firm also expects investors to closely monitor synergy realization efforts and productivity improvements within the Delaware Basin as integration progresses.

Earlier, on July 8, JPMorgan reduced its price target on Devon Energy Corporation (NYSE:DVN) to $55 from $62 while reiterating an Overweight rating. The firm forecasts total 2026 production volumes of approximately 1.384 million barrels of oil equivalent per day and believes merger integration remains on track. For the second quarter, JPMorgan anticipates modest upside in oil production and EBITDA performance, reflecting operational execution and the early benefits of combining assets and operations.

Founded in 1971 and headquartered in Oklahoma City, Oklahoma, Devon Energy Corporation (NYSE:DVN) is an energy producer focused on the exploration, development, and production of oil, natural gas, and natural gas liquids.