Nomura Securities Upgrades Chesapeake Energy (CHK) to Neutral

Nomura Securities upgraded Chesapeake Energy (NYSE: CHK) from Reduce to Neutral with a price target of $7.50 (from $4.00).

Analyst Lloyd Byrne commented, " our way through the majority of new play data and its preliminary impact on our Net Asset Value and corporate model. We are raising our target to $7.50 per share and removing our discount tied to future liquidity / funding. CEO Doug Lawler and CFO Dominic Dell 'Osso deserve a lot of credit for a substantive repositioning."

FY16E EPS from $(0.22) to $(0.17); FY17E EPS from $0.76 to $0.67.

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 $6.91 yesterday.

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Beike (BEKE) PT Raised to $23 at Morgan Stanley
• Citi upgrades O-I Glass to Buy with $9 price target, opens 90-Day upside catalyst watch