Market Overview

UPDATE: Credit Suisse Cuts PT to $31 on Chesapeake Midstream Partners

Chesapeake Energy Corporation Announces Closing of Sale of Its Interests in Chesapeake Midstream Partners to Global Infrastructure Partners for $2.0B
UPDATE: Bank of America Raises PO to $30 on Chesapeake Midstream Partners on CHKM Separation Possibility

Credit Suisse assumes its coverage on Chesapeake Midstream Partners (NYSE: CHKM) with an Outperform rating and a price target of $31 (previously $34).

Credit Suisse says, "In our view, the concerns about CHKM's corporate governance and relationship with Chesapeake Energy (CHK) are overdone and units present a compelling value opportunity at current levels. We believe CHKM's longterm fee-based contractual commitments with CHK are sound and provide a firm foundation for the sustainability of the distribution. We believe CHKM will continue to acquire midstream assets from CHK at reasonable prices enabling the partnership to deliver high single digit distribution growth over the next five years."

CHKM closed at $25.51 on Wednesday.

Latest Ratings for CHKM

Jul 2012BarclaysRe-initiates coverage onOverweight
Jun 2012Deutsche BankMaintainsBuy
May 2012Deutsche BankUpgradesHoldBuy

View More Analyst Ratings for CHKM
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings


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