Buy Dip in Cloud Peak Energy (CLD) - Analyst

May 1, 2013 11:14 AM EDT
Get Alerts CLD Hot Sheet
Price: $5.33 +2.90%

Rating Summary:
    7 Buy, 12 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs today maintained a Buy rating on Cloud Peak Energy (NYSE: CLD) with a price target of $22.00. Shares opened lower on Wednesday after the company reported disappointing Q1 results. While he is not surprised by today's move lower, Goldman analyst Andre Benjamin views the decline as a buying opportunity.

"We remain Buy-rated on CLD and would use weakness to add to positions because we still see more room for CLD shares to rise as spot PRB prices actually improve with physical inventories during the year," said Benjamin.

Benjamin expects improving coal fundamentals to be the key driver medium-term.

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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