Chesapeake Energy Still Has Room to Run
Chesapeake Energy could rise to $10 in the near term, analysts at Wunderlich Securities said.
Chesapeake Energy (CHK) - Get Report has been one of the most energetic stocks in recent weeks, but the shares still have room to run, according to Wunderlich Securities analyst Jason Wangler. Chesapeake Energy shares have gained more than 35% against the S&P 500 since the presidential election in November, and are up 40% over the past 12 months. The stock should grow towards $10 per share this year, according to Wangler. "Chesapeake will get there by just continuing to do what they are doing: reducing debt -- without using dilutive measures as so many companies have been doing -- monetizing assets and focusing on core positions." For more on why Chesapeake could move higher, check out TheStreet's Tom Terrarosa's report.
