Nomura Securities Upgrades Chesapeake Energy (CHK) to Neutral
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Nomura Securities upgraded Chesapeake Energy (NYSE: CHK) from Reduce to Neutral with a price target of $7.50 (from $4.00).
Analyst Lloyd Byrne commented, " our way through the majority of new play data and its preliminary impact on our Net Asset Value and corporate model. We are raising our target to $7.50 per share and removing our discount tied to future liquidity / funding. CEO Doug Lawler and CFO Dominic Dell 'Osso deserve a lot of credit for a substantive repositioning."
FY16E EPS from $(0.22) to $(0.17); FY17E EPS from $0.76 to $0.67.
Shares of Chesapeake Energy closed at $6.91 yesterday.
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