Oppenheimer Comments on Chesapeake

Oppenheimer provided color on Chesapeake

in a research report published today. Oppenheimer has an Outperform rating and $28 price target on the company. In the report, Oppenheimer stated, "Earlier this week, Chesapeake agreed to replace four of its current board members with three representing Southeastern Asset Management and one representing the Icahn Group, its two largest shareholders. CHK will soon announce a new non-executive chairman, which should significantly enhance corporate governance and strengthen its board independence." Shares of CHKM were trading at $25.90 at the time of posting, up 3.31% from Thursday's market close.