Wunderlich Securities Sees Chesapeake Energy Staying Aggressive On Spending Front Given Ample Cash Balance

In a report published Thursday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $24.00 price target on

. In the report, Wunderlich Securities noted, "Chesapeake Energy (CHK) reported a tough 4Q14 as EPS of $0.11 were below our $0.24 estimate and the Street's $0.23 forecast as production beat expectations, but revenue missed due to weak NGL and natural gas pricing. The company also laid out its 2015 plans which show more activity than most expected as its strong cash balance allows Chesapeake to plan for its future more aptly than others in need of financial help. While the company's growth projections are relatively paltry, there are reasons for this as the company has shut-in some production and plans to build an inventory to quickly respond to commodity prices in the future through an active completion schedule. The reduced commodity prices have brought our estimates down, but we remain bullish on Chesapeake given its optionality." Chesapeake Energy closed on Wednesday at $17.98.