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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (178331)	7/1/2013 9:52:39 AM
From: Dennis Roth	2 Recommendations Recommended By evestor LoneClone Respond to of 206110

Devon Energy Corp (DVN) E&P Humidor: Takeaways from Midwest Roadshow; An Apparent No to the Status Quo 01 July 2013, 34 pages doc.research-and-analytics.csfb.com Our take: A couple of key ‘Sooners’ from DVN’s management team (Jeff Agosta and Jeff Ritenour) jumped into the E&P Humidor for a Midwest roadshow. There is no debate DVN is cheap, in our view, so the key buyside question is if the stock can close the wide valuation gap in the investable time horizon. While things appear sound operationally, we don’t believe operating results alone can do the trick given persistent product price headwinds as well as the lack of a core franchise asset such as Eagle Ford or Wattenberg. That said, we reiterate our Outperform rating as a highly motivated (and frustrated) management team with options could act on several potential strategic alternatives to unlock value by year-end, including an M&A transaction to add a new leg to its light oil growth strategy.