Brean Murray Carret & Co. Downgrades Walter Energy (WLT) to Hold; Continued Operational Issues

Brean Murray Carret & Co. downgraded Walter Energy (NYSE: WLT) from Buy to Hold.

Brean analyst says, "WLT reported a sizable Q2 miss, with adjusted EPS coming in at $2.36 vs. the Street at $3.98. The primary reason for the miss was the lower-than-expected production at WLT's met coal mines, relative to our estimates...Walter as a near-term takeover candidate?...Recently, an investment fund that owns 1.5% of WLT's total stock urged the company to pursue a sale. In our view, this is unlikely to occur for 3 reasons..."

For more ratings news on Walter Energy click here and for the rating history of Walter Energy click here.

Shares of Walter Energy closed at $110.48 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• RBC Capital Downgrades Accelerant Holdings (ARX) to Sector Perform
• JPMorgan Downgrades HomeCo Daily Needs REIT (HDN:AU) to Neutral
• Citizens Downgrades Accelerant Holdings (ARX) to Market Perform