Barclays Maintains an 'Overweight' on Chesapeake Energy (CHK); Chopping Numbers in N-T; Confidence in Execution L-T

Barclays maintains an 'Overweight' on Chesapeake Energy (NYSE: CHK) price target cut from $27 to $20.

Analyst, Jeffrey W. Robertson, said, "CHK's business model is strained as it seeks to monetize assets in order to reduce leverage and continue a shift to liquids. We remain optimistic that buyers will emerge for CHK's assets to close the 2012 funding gap. However, the reduction in 2013 liquids volumes was more than we anticipated."

Barclays slashes FY12 EPS estimate from $0.65 to $0.05 and FY13 from $1.90 to $1.25.

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 $16.74 yesterday.

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