KeyBanc analyst Tim Rezvan initiated coverage of Chesapeake with a Sector Weight rating and no price target. The rating reflects a the “opaque” near- and medium-term outlook for natural gas more than a negative view on Chesapeake, the analyst tells investors in a research note. The firm says that while recent production curtailments from Chesapeake and EQT Resources are prudent in the face of oversupplied markets, it is unclear how impactful the actions of these two companies can be to calibrate “bloated” inventories.
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