Wunderlich Securities Sees Plenty Of Accretive Options For Chesapeake Energy

In a report published Tuesday, 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) stock has been under heavy pressure since the company's 4Q14 earnings release and 2015 guidance; CHK is down to a 52- week low for what we believe are unfair reasons. The concern about Chesapeake remains its balance sheet despite the fact that its asset sales and simplification have put the company in a great position; and while it has an outspend for 2015, it should be easily funded by the $4 billion in cash currently on the books. Further, with the potential to make acquisitions in a depressed market and a $1 billion share repurchase program authorized late last year, we believe there are multiple avenues for Chesapeake to add value, and at the current valuation we believe there is a significant opportunity at a compelling price. Our rating on CHK remains Buy." Chesapeake Energy closed on Monday at $14.24.