Goldman Sachs Upgrades SunCoke Energy (SXC) to Conviction Buy

Goldman Sachs upgraded SunCoke Energy (NYSE: SXC) from Neutral to Conviction Buy with a 6-month price target of $19 (up from $15), suggesting 36% upside.

The firm cites the stable coke business, "which derives all its profits from take-or-pay contracts with US steel producers that feature fixed fees/cost passthroughs and has limited exposure to uncertainties around met coal prices, China’s growth, weather and natural gas prices." Goldman also likes the visible, well-above-average 10% EBITDA CAGR through 2015.

For an analyst ratings summary and ratings history on SunCoke Energy click here. For more ratings news on SunCoke Energy click here.

Shares of SunCoke Energy closed at $13.88 yesterday.

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