Seeking Alpha

Brean steps to sidelines on Chesapeake Utilities

  • Brean cuts Chesapeake Utilities (CPK +2.5%) to Hold from Buy.
  • The move is a valuation call, as analyst Michael Gaugler still considers the company "a core holding for small cap utility and dividend investors, given its very strong organic growth profile and opportunities for continued investments across its entire operating footprint."
  • Price target is $61.
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