UBS analyst Josh Silverstein raised the firm’s price target on Chesapeake (CHK) to $92 from $86 and keeps a Neutral rating on the shares to reflect accretion from the Southwestern Energy (SWN) deal. The acquisition is more than 20% accretive, there are visible cost/capex synergies with upside, easy asset integration, and greater scale to support increasing LNG exports, the analyst tells investors in a research note.
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Read More on CHK:
- Southwestern Energy price target raised to $8.24 from $8 at Citi
- Chesapeake upgraded to Buy from Neutral at Citi
- Chesapeake upgraded to Buy from Neutral at Mizuho
- M & A News: Chesapeake Energy (NASDAQ:CHK) Will Acquire Southwestern Energy for $7.4B
- Chesapeake, Southwestern Energy merge in $7.4B an all-stock transaction