Chesapeake Utilities initiated with a Neutral at BTIG

BTIG initiated coverage of Chesapeake Utilities (CPK) with a Neutral rating and no price target The firm views utilities as a “demand growth story today” due to data centers and re-Industrialization in the U.S. as reshoring incentives and tariffs take hold. Despite being close to decade-plus stock highs, company valuations “look reasonable,” the analyst tells investors in a research note. BTIG sees valuations being supported by elevated growth and potential interest rate cuts. Its bullish view on the sector’s growth leads to more Buy ratings.