Reuters / Brendan McDermid
Chesapeake Energy was issued a rare “strong sell” rating and slapped with a $0 price target in an analyst note from CFRA Research on Tuesday. Analyst Paige Meyer said the company has a negative tangible net worth and viewed a bankruptcy filing in 2020 as likely. Chesapeake Energy has seen its market value fall more than 99% from $10.1 billion in 2015 to $125 million today as energy prices collapsed, according to data from YCharts. Visit Business Insider’s homepage for more stories.
Chesapeake Energy was downgraded from “sell” to “strong sell” and slapped with a $0 price target in a Tuesday morning analyst note issued by CFRA Research’s Paige Meyer.
The note comes following a collapse in energy prices that saw