Chesapeake (CHK) Stock Climbs, Upgraded at Piper Jaffray

Chesapeake (CHK) stock is gaining in pre-market trading Tuesday as Piper Jaffray raised its rating on shares to ‘neutral’ from ‘underweight.’
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Chesapeake Energy (CHK) - Get Report are jumping 4.31% to $4.36 in pre-market trading Tuesday as Piper Jaffray boosted its rating on the stock to "neutral" from "underweight," the Fly reports.

The firm maintained a $4.50 price target on the stock.

Chesapeake's default risk over the next two years is reduced after its $950 million of divestitures, Piper Jaffray said, according to the Fly.

The Oklahoma City-based company is a producer of natural gas, oil and natural gas liquids in the U.S.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of E+ on the stock.

The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CHK

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