This energy name is outperforming and is still too cheap to ignore, says Jefferies

Devon Energy should continue to rally even if the oil rally fizzles as bullish catalysts line up for the stock — including the closing of its merger with Coterra — according to Jefferies. The investment firm upgraded the oil and gas producer to buy from hold. It also raised its price target on shares to $62 from $53, implying 37% upside from Thursday's close. Devon is "too cheap to ignore with catalysts," analyst Lloyd Byrne said Thursday in a note to clients. …