RBC Capital analyst Shelby Tucker upgraded Chesapeake Utilities to Outperform from Sector Perform with a price target of $123, up from $111. The analyst continues to expect the Florida Gas acquisition will be accretive over the long term, and says the now finalized funding source removes the uncertainty surrounding the scale of potential equity dilution. The firm says Chesapeake management’s record of successful acquisitions and confidence “leads us to believe they will deliver.”
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