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 $26.75 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• AMD (AMD) to offer senior notes in four parts
• Orange EV Secures $100 Million Credit Facility with Wells Fargo
• Recurrent Energy Secures $695 Million in Project Financing for 330 MW California Solar Project