Deutsche Bank Maintains a 'Buy' on Walter Energy (WLT); Price Target $85

Deutsche Bank maintains a 'Buy' on Walter Energy (NYSE: WLT) price target of $85.00.

Deutsche analyst says, "Walter Energy is a leading exporter of met coal and in 2011 it completed the acquisition of Western Coal, a Canada-based met coal supplier that also serves the seaborne market. On a pro-forma basis, the combined firm would have total coal reserves of approximately 403m tons and we estimate it will ship 13m and 16m tonnes in 2011-12, of which 9m and 11m tonnes will be met coal. The combined entity will
have met coal assets in Canada and the US, as well as thermal, coke, and natgas production in the US, with small anthracite coal operations in the UK. We rate WLT shares a Buy given the upside potential to our price target...We believe that WLT should trade in line with the peer group given its growth via organic projects and acquisition and improving scale."

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 $58.75 yesterday.

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