Chesapeake Energy Corp (CHK)

[eFinanceMarkets]

Chesapeake Energy started with Buy rating, $10 price target, at Stifel
Chesapeake Energy (CHK +1.2%) is higher after Stifel Nicolaus initiates coverage of the stock with a Buy rating and price target of $10, exactly double yesterday's $5 closing price.
The firm cites CHK's "multiple top-tier breakeven economic assets, a company-wide technology revolution that foreshadows further productivity gains" it believes Wall Street is overlooking, as well as a "compelling valuation."
"Following a wave of asset divestitures, debt repayments and midstream obligation re-negotiations, we believe Chesapeake is well positioned to succeed in the North American shale low-price commodity environment," Stifel's Karl  Chalabala writes.