Chesapeake Energy’s Price Target Boosted at Barclays Capital (CHK)

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Natural gas producer Chesapeake Energy Corporation ( CHK ) on Wednesday saw its price target raised by analysts at Barclays Capital.

The firm said it now expects CHK shares to hit $40, up from a prior target of $33. The new target implies a massive 46% upside to the stock's Tuesday closing price of $27.34.

Barclays also maintained its "Overweight" rating on the stock, noting the company has announced a solid plan to reduce its debt by 25% in the next two years.


Chesapeake Energy shares rose 25 cents, or +0.9%, in premarket trading Wednesday.

The Bottom Line
Shares of Chesapeake Energy ( CHK ) have a 1.10% dividend yield, based on last night's closing stock price of $27.34. The stock has technical support in the $24 price area. If the shares can firm up, we see overhead resistance around the $30 price level.

Chesapeake Energy Corporation ( CHK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: CHK

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