Wells Fargo Upgrades Chesapeake Energy (CHK) to Outperform; Utica And Liquids Shift Should Drive Shares

Wells Fargo upgraded Chesapeake Energy (NYSE: CHK) from Market Perform to Outperform with a price target range of $38-$42 (from $26- $29)

Wells analyst says, "Through an aggressive acquisition and development strategy, over the last few years Chesapeake has built itself into a dominant natural gas producer in the U.S. We believe the company's Utica position will be a driver of value for shares and believe that CHK has indeed made the transition to a more balanced portfolio."

For more ratings news on Chesapeake Energy click here and for the rating history of Chesapeake Energy click here.

Shares of Chesapeake Energy closed at $25.91 yesterday.

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