Investors were bidding up shares of Chesapeake Energy , one day after the oil and gas company announced a debt for equity swap, which is designed to lower its borrowings. According to Barron’s Wunderlich Securities believe the move makes sense, but the firm suggests that better opportunities to acquire Chesapeake’s stock lie ahead. Wunderlich notes that Chesapeake has balloon payments for the next three years, starting in 2017.The firm also repeated its hold rating on the stock, and its $6 price target. Chesapeake also got a lift from the rise in oil prices.
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