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Fly News Breaks for July 9, 2015
CHK
Jul 9, 2015 | 09:05 EDT
Noting that Chesapeake's stock has fallen 60% over the past few months, Bernstein says that some have said that the stock could fall to $0. The firm disagrees, saying that the NAV of the company's Woodmac unit will jump 100%, based on the firm's price outlook, while Chesapeake is an attractive takeover target and ratings agencies say that the company does not have significant liquidity risk. The firm says that Chesapeake could take four steps that would ease the burden of its midstream contracts. It keeps a $19 price target and Outperform rating on the shares. .
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