Jefferies Resumes Chesapeake Energy (CHK) at Underperform

Jefferies resumes coverage on Chesapeake Energy (NYSE: CHK) with a Underperform rating and a price target of $3.00 (from $2.00).

Analyst Jonathan Wolf commented, "We are resuming coverage of CHK with an Underperform rating and a $3 PT. Recent actions have materially reduced the risk of default/liquidity issues (debt-to-equity exchanges, asset sales, re-affirmation of RBL). But overall obligations remain very high, volumes are declining, asset quality looks subpar and significant further equity holder dilution is likely."

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 $4.51 yesterday.

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