Investors should stay away from Chesapeake Energy (CHK -0.7%), Citigroup analysts say, even though the stock has shown signs of life recently, up 30% since Aug. 25.
CHK shares are down 60% YTD, the worst performing stock in the S&P 500, Citi says it is not yet time to buy; while CHK has some good assets and capable management, the firm continues to recommend investors stay on the sidelines until it delivers on its commitment to reduce leverage through several ongoing initiatives.
Interestingly, in a day of broad declines led by the energy sector, CHK is down only modestly.
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