Citigroup Maintains Neutral Rating for Chesapeake Energy: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Citigroup has maintained a Neutral rating for Chesapeake Energy (NASDAQ:CHK) but lowered its price target from $90.00 to $82.00. Chesapeake Energy's shares are currently trading down at $73.38, which is a 2.23% decrease over the last 24 hours. The new price target suggests a potential upside of 11.75% from the current share price. Chesapeake Energy is an exploration and production company focused on oil, natural gas, and natural gas liquids, with operations in Marcellus, Haynesville, and Eagle Ford.
December 11, 2023 | 5:00 pm
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Citigroup maintains a Neutral rating on Chesapeake Energy and lowers the price target from $90 to $82. The stock is currently trading at $73.38, down 2.23%.
The maintenance of a Neutral rating by Citigroup indicates no significant change in the company's outlook, while the reduction in price target could be seen as a slight negative. However, the new price target still suggests an upside, which may mitigate negative sentiment. The stock's recent dip in price could be a reaction to the lowered price target or other market factors.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100