Chesapeake Energy Corp (CHK)

[eFinanceMarkets]

Chesapeake Energy +3% after bullish view from Wunderlich analyst
Chesapeake Energy (CHK +3.2%) powers higher in active trading as Wunderlich analyst Jason Wrangler reiterates a Buy rating and $10 price target on the shares, citing "compelling valuation alongside natural gas exposure, oil growth and an improving balance sheet."
CHK’s early results from its Powder River Basin and Mid-Continent plays are "positive developments as the company ramps activity in the areas with a focus on driving oil growth going forward," Wrangler writes.
The analyst notes that CHK recently posted a 1,650 boe/day (70% oil) Niobrara well test on its Powder River Basin assets, "a good start" as the company ramps up operations in the region.