Chesapeake reinstated with an Outperform at Wolfe Research

Wolfe Research reinstated coverage of Chesapeake with an Outperform rating and $110 price target. The firm reinstated coverage of energy above with a long overdue global perspective. With oil rangebound around $85, the firm leans defensive out of the gate. Sector exposure is targeted oil, leaning in on gas and agnostic refiners, the analyst tells investors in a research note.