Wednesday, May 16, 2012

Deutsche Bank Upgrades Chesapeake Energy to Hold (CHK)

From Benzinga:
In a company update published earlier today, Deutsche Bank AG upgraded the rating for Chesapeake Energy (NYSE: CHK) from Sell to Hold, but did not name a price target.

Deutsche Bank said in its report “Chesapeake Energy closed a $4BN term loan yesterday, which increased its liquidity to $4.7BN. Our previous rating was driven by a combination of (i) concerns over additional debt issuance for liquidity and (ii) fundamental natural gas risk as CHK is 0% hedged for 2012....MORE