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Fly News Breaks for December 17, 2018
CPK
Dec 17, 2018 | 07:20 EDT
As previously reported, Janney Montgomery Scott analyst Michael Gaugler downgraded Chesapeake Utilities to Neutral from Buy, citing valuation given that the stock is trading "materially above" his $86 fair value estimate. He does we believe Chesapeake Utilities shares would command a higher P/E multiple if it were acquired, but does not base his fair value estimates potential premiums from change of control events, Gaugler tells investors.
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