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UPDATE: Stifel Nicolaus Upgrades Chesapeake Energy to Buy on CEO Retirement Announcement

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The Vetr community has upgraded $CHK to 3.5-Stars. (Vetr)

Stifel Nicolaus upgraded Chesapeake Energy (NYSE: CHK) from Hold to Buy and announced a $25.00 price target.

Stifel Nicolaus commented, "We would buy CHK shares on the expectation that the announcement of the CEO stepping down could lead to the whole company being put into play or at least, and more likely, a more aggressive shrinking of the asset base, relative to prior expectations. Either event, corporate sale or more aggressive asset sales, should lead to a faster closing of CHK's NAV discount to its peers. Additionally, we believe that a certain segment of the investment community, who were disinclined to invest in the company due to corporate governance concerns might now take a second look at the company, creating a slightly improved potential investor base."

Chesapeake Energy closed at $18.97 on Tuesday.

Latest Ratings for CHK

DateFirmActionFromTo
Apr 2016Tudor PickeringUpgradesSellHold
Mar 2016Deutsche BankMaintainsHold
Feb 2016MacquarieMaintainsNeutral

View More Analyst Ratings for CHK
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Posted-In: Stifel NicolausAnalyst Color Upgrades Analyst Ratings

 

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