** RBC downgrades Devon Energy to “sector perform” from “outperform,” on downside risk to market expectations on planned asset sales
** Co said its board authorized sale of its assets in Canada and in U.S. Barnett shale patch, to turn Devon into pure-play oil producer
** “We think market expectations are for combined proceeds of $4 bln-4.5 bln but that could prove challenging given current commodity prices, differentials and a small buyer pool” - RBC
** RBC cuts price target to $38 from $39, which still implies 28.7 pct upside from last closing price
** 20 of 35 analysts covering the stock rate “buy” or higher and 15 “hold”; their median PT is $35.50 - Refinitiv data
** Up to Thursday’s close, stock up 30.9 pct this year
Reporting By Geetha Panchaksharam
