Jefferies Upgrades Chesapeake Energy (CHK) to Hold

November 10, 2016 7:21 AM EST
Get Alerts CHK Hot Sheet
Price: $6.69 +1.06%

Rating Summary:
    9 Buy, 27 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies upgraded Chesapeake Energy (NYSE: CHK) from Underperform to Hold with a price target of $5.00.

Analyst Jonathan Wolff commented, "Upgrade CHK to Hold. During CHK's mid Oct. analyst day and 3Q report, it highlighted its restored financial health, a return to growth, and emerging test projects. CHK’s growth assumptions look a bit lofty to us and will require external funding, but the shares are now close to our RAAV estimate and offer ‘long-dated’ natural gas optionality (~ 75% gas). Our RAAV-based PT is unchanged at $5."

The firm raised FY 2016 EPS from ($0.16) to $0.07 and lowered FY 2017 EPS from $1.62 to $1.56.

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 $5.77 yesterday.

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