The Fly

Chesapeake initiated with an Overweight at Wells Fargo

Wells Fargo analyst Roger Read initiated coverage of Chesapeake with an Overweight rating and $117 price target. Restructuring and other advantages offset short-term risks associated with natural gas oversupply, the analyst tells investors in a research note. Wells Fargo believes Chesapeake can improve its balance sheet and achieve and investment grade rating, and should be able to further reduce its debt and simplify its capital structure while fostering a healthy environment for investor returns.

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