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

Loading...
Loading...
Stifel Nicolaus upgraded Chesapeake Energy
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.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesAnalyst RatingsStifel Nicolaus
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...