Nomura Securities Maintains a 'Neutral' on Walter Energy (WLT); Conference Call Illuminating
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Price: $11.70 -3.54%
Rating Summary:
7 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
7 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Trade WLT Now!
Nomura Securities maintains a 'Neutral' on Walter Energy (NYSE: WLT) price target of $70.00.
Analyst, Curt Woodworth, said, "Walter’s conference call provided some illuminating details on the current dynamics at work today in the seaborne coking coal market. WLT commented that the recent collapse in the spot price was in large part driven by BMA becoming more aggressive in placing its monthly contract tonnage, a strategy that performs poorly in a declining spot market environment. Given spot prices are near $180/tonne per Platts, it seems likely that a settlement below $200/tonne is a real possibility in 4Q-12. We believe most producers will try to hold the key $200/tonne psychological support level with cost support and Chinese arb likely to provide downside support in the $185-190/tonne range in a more bearish scenario."
F12E EPS from $3.15 to $1.86; F13E EPS from $4.85 to $4.10.
For an analyst ratings summary and ratings history on Walter Energy click here. For more ratings news on Walter Energy click here.
Shares of Walter Energy closed at $35.39 yesterday, with a 52 week range of $31.33-$114.00.
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Analyst, Curt Woodworth, said, "Walter’s conference call provided some illuminating details on the current dynamics at work today in the seaborne coking coal market. WLT commented that the recent collapse in the spot price was in large part driven by BMA becoming more aggressive in placing its monthly contract tonnage, a strategy that performs poorly in a declining spot market environment. Given spot prices are near $180/tonne per Platts, it seems likely that a settlement below $200/tonne is a real possibility in 4Q-12. We believe most producers will try to hold the key $200/tonne psychological support level with cost support and Chinese arb likely to provide downside support in the $185-190/tonne range in a more bearish scenario."
F12E EPS from $3.15 to $1.86; F13E EPS from $4.85 to $4.10.
For an analyst ratings summary and ratings history on Walter Energy click here. For more ratings news on Walter Energy click here.
Shares of Walter Energy closed at $35.39 yesterday, with a 52 week range of $31.33-$114.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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