Chesapeake Energy (CHK) PT Raised at Jefferies

Jefferies analyst Subash Chandra boosted his price target on Buy-rated Chesapeake Energy (NYSE: CHK) to $35.00 (from $31.00) saying the company is trimming fat, adding muscle.

Chandra said, "We are updating our estimates and our NAV following the company’s Analyst Day and announcement of non-core asset sales and services business spinoff. '14 and '15 EPS lowered to $1.82 and $1.73 from $2.10 and $2.19, respectively. Increase NAV to $35/shr on ~10% reserve growth in '15."

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 $27.64 yesterday.

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