Brean Capital Downgrades Cloud Peak Energy (CLD) to Hold, Hold Off Buying Shares

May 1, 2013 7:50 AM EDT
Get Alerts CLD Hot Sheet
Price: $5.34 +3.09%

Rating Summary:
    7 Buy, 12 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Brean Capital downgraded Cloud Peak Energy (NYSE: CLD) from Buy to Hold with a fair value estimate of $18.00 (from $20). The downgrade follows a Q1 miss and weak guidance reported on Tuesday.

"We continue to stand by our thesis that domestic thermal coal prices are bound to increase in 2H on higher coal burn, production curtailments, and the subsequent domestic thermal coal inventory reduction. This trend should also benefit Cloud Peak Energy. However, even with our PRB (8,800 Btu) price deck for unpriced volumes of $13/ton for 2H and $14/ton for 2014, we now see this dynamic fully priced into the stock and would recommend that investors hold off from accumulating additional shares at current levels," said analyst Lucas Pipes.

For an analyst ratings summary and ratings history on Cloud Peak Energy (NYSE: CLD) click here. For more ratings news on Cloud Peak Energy click here.

Shares of Cloud Peak Energy closed at $19.54 yesterday.

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