- Chesapeake Energy's (CHK -5.2%) stock price target is lowered by $2 to $14 at RBC Capital to reflect a wider discount to its net asset value in the current weak oil price environment, with the firm saying "more progress on the liquidity overhang is key to reaching NAV potential."
- RBC sees near-term opportunities for CHK such as outright sales of non-core gassy assets that could generate several hundred million dollars, while larger opportunities to improve the long-term financial structure include sales or JVs of emerging areas such as portions of the STACK and the PRB.