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UPDATE: JP Morgan Upgrades Chesapeake Energy to Overweight on Improved Near-Term Financials

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JP Morgan upgraded Chesapeake Energy Corporation (NYSE: CHK) from Underweight to Overweight and raised the price target from $15.50 to $20.00.

JP Morgan said, "We are upgrading CHK to Overweight from Underweight based on improved financials. We think CHK has reduced spending and costs successfully, but part of the improved financials could be asset sales beyond what the company has disclosed publicly. We recognize that financial risk remains and that the stock is not cheap, but we think an improved financial picture will likely help the stock outperform. We also are rolling out a new, lower commodity price deck with this note."

Chesapeake Energy closed at $16.88 on Wednesday.

Latest Ratings for CHK

DateFirmActionFromTo
Aug 2016Deutsche BankMaintainsHold
Aug 2016BarclaysMaintainsUnderweight
Aug 2016Capital One FinancialUpgradesUnderweightEqual-weight

View More Analyst Ratings for CHK
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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