UBS Downgrades Chesapeake Energy to Neutral, Lowers Price Target to $86
Portfolio Pulse from Benzinga Newsdesk
UBS analyst Josh Silverstein downgraded Chesapeake Energy (NASDAQ:CHK) from Buy to Neutral and reduced the price target from $106 to $86, indicating a more cautious outlook on the company's stock.
December 14, 2023 | 3:46 pm
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Chesapeake Energy was downgraded by UBS from Buy to Neutral, with a lowered price target from $106 to $86, suggesting a tempered expectation for the stock's performance.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a less optimistic view on the company's future performance. The reduction in the price target further reinforces this view, indicating that the analyst sees less upside potential for the stock.
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