Nomura Securities Upgrades Chesapeake Energy (CHK) to Neutral

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.

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 $6.91 yesterday.

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