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Fly News Breaks for October 21, 2016
CHK
Oct 21, 2016 | 06:29 EDT
BofA/Merrill analyst Doug Leggate upgraded Chesapeake to Neutral and raised its price target to $10 from $6 following yesterday's analyst day. The analyst said management addressed several issues and specifically the "reveal" of substantial acreage in the Powder River and Anadarko basins which will augment the Eagleford. Leggate said the immediate move to develop Powder River and competitive Oswego returns are key drivers for accelerating oil growth over the next 5 years.
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