Canaccord Genuity Maintains a 'Buy' on Chesapeake Energy (CHK); Slight Adjustment, But Looking Good So Far
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Price: $81.46 --0%
Rating Summary:
20 Buy, 18 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
20 Buy, 18 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Canaccord Genuity maintains a 'Buy' on Chesapeake Energy (NYSE: CHK) price target lowered $1 to $36.
Analyst, John Gerdes, said, "We are decreasing our price target following recent monetizations. We believe CHK reflects a ~20% discount relative to the group due to capitalization instability. Currently, this discount seems appropriate given the company’s ‘12E cash flow imbalance. Yet, we believe liquidity events during the year should somewhat alleviate this discount to fair value. Looking forward, Chesapeake’s organic cash flow outspend should narrow from ~$8 billion this year to ~$3 billion in ’16E."
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 $21.47 yesterday.
Analyst, John Gerdes, said, "We are decreasing our price target following recent monetizations. We believe CHK reflects a ~20% discount relative to the group due to capitalization instability. Currently, this discount seems appropriate given the company’s ‘12E cash flow imbalance. Yet, we believe liquidity events during the year should somewhat alleviate this discount to fair value. Looking forward, Chesapeake’s organic cash flow outspend should narrow from ~$8 billion this year to ~$3 billion in ’16E."
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 $21.47 yesterday.
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