Jefferies analyst Lloyd Byrne lowered the firm’s price target on Chesapeake (CHK) to $115 from $118 and keeps a Buy rating on the shares. The firm is marking to market estimates to account for Henry Hub and WTI price forecasts and expects Chesapeake to post Q4 EBITDA and cash flow per share of $508M and $3.29, respectively, versus consensus at $502M and $3.37. The firm, which believes the announced delay in Southwestern Energy (SWN) merger was largely expected by markets, continues to view the pro forma company as a “must own” U.S. nat gas player, the analyst tells investors.
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Read More on CHK:
- Chesapeake price target lowered to $112 from $119 at Truist
- Chesapeake initiated with a Sector Weight at KeyBanc
- Chesapeake price target lowered to $100 from $104 at Mizuho
- Southwestern Energy price target raised to $7 from $6.50 at Susquehanna
- Southwestern Energy upgraded to Neutral from Underperform at Mizuho
