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Chesapeake Energy

Chesapeake Energy

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The Associated Press March 15, 2010, 5:59PM ETAnalyst lowers rating on Chesapeake EnergyStory Toolsorder a reprintDENVERA Morgan Stanley analyst lowered his rating Monday on Chesapeake Energy Corp., saying it is on track to deliver production growth but there are few company-specific catalysts that could move the stock price.In a research note to clients, analyst Stephen Richardson downgraded Chesapeake to equal-weight from overweight.Chesapeake is on track to increase production by 8 percent to 10 percent this year, he said.The company is highly levered to the natural gas strip and the Big 6 shale plays remain the primary growth drivers for (Chesapeake) going forward, Richardson said.We still see upside from current levels, but view risk-reward as more balanced today, he stated.Shares of Chesapeake fell 22 cents to close at $25.42...

Source: http://www.businessweek.com/ap/financialnews/D9EFARBG0.htm
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