Chesapeake Energy (CHK) PT Raised to $7 at Credit Suisse

October 24, 2016 6:32 AM EDT
Get Alerts CHK Hot Sheet
Price: $6.87 +2.84%

Rating Summary:
    9 Buy, 27 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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Credit Suisse analyst Mark Lear raised his price target on Chesapeake Energy (NYSE: CHK) to $7.00 (from $4.00) but maintained a Neutral rating following last weeks analyst day.

Lear commented, "We maintain our Neutral rating and raise our TP to $7 (from $4) following CHK’s analyst day in OKC last week, where the company showcased the long term growth potential from its asset base and the ability to further deleverage the balance sheet. The company has come a long way through a tough cycle, from early 2016 when there was serious doubt of the company’s ability to survive to now, with management making a legitimate case CHK should be back in consideration for a place in the portfolio. We adjust our 2017/2018 EPS estimates to $0.46/$1.07 (from $0.49/$0.77) as we account for 4Q16 asset sales impacting 2017 volumes, and raise our 2018 growth projection driven by Haynesville and Oswego."

For an analyst ratings summary and ratings history on Chesapeake Energy click here. For more ratings news on Chesapeake Energy click here.

Shares of Chesapeake Energy closed at $6.68 yesterday.

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