KLR Group Reiterates Buy on Chesapeake Energy (CHK) - PT to $9

August 11, 2016 8:32 AM EDT
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Price: $7.72 +1.58%

Rating Summary:
    9 Buy, 26 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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KLR Group reiterated a Buy rating on Chesapeake Energy (NYSE: CHK), and raised the price target to $9.00 (from $8.00). The change is due to the value accretive Barnett asset transfer and termination of associated midstream contracts.

Analyst John Gerdes commented, "We are increasing our CHK target price $1 to $9 per share due to the value accretive Barnett asset transfer and termination of associated midstream contracts. Specifically, Chesapeake is transferring to Saddle Barnett Resources, LLC the company’s Barnett assets and paying $334 million to Williams Partners (WPZ, $35.06, NR) in return for the elimination of ~$1,900 million in Barnett gas gathering, processing and transportation expenses through ’19 with a PV10 value of ~$1,600 million."

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 $4.80 yesterday.



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Analyst Comments, Analyst EPS Change, Analyst PT Change

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