Brean Murray Carret Cuts Price Target on Cloud Peak Energy (CLD), Will Outperform Peers
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Price: $0.16 --0%
Rating Summary:
4 Buy, 10 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 10 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Brean Murray Carret & Co. is maintaining its Buy rating on shares of Cloud Peak Energy (NYSE: CLD), but is reducing its price target from $31 to $24.
The company's Q4 results came in above expectations. The upside reflects stronger than expected sales volumes and cost control. CLD's FY12 EBITDA guidance ranges of $300-$375 million was much wider than analysts were predicting. The firm notes the wide range is a result of potential contract deferrals and due to the fact that roughly 6 percent of 2012 sales volumes has yet to be priced.
An analyst at Brean Murray Carret comments, "Cloud Peak remains a strong name in a harrowing time. We expect that the stock will outperform the group on the back of this quarterly update, especially given the stock's weakness over the last week."
For Q1, the firm forecasts earnings of $0.54 per share. Brean Murray Carret cut its FY12 and FY13 EPS estimates from $2.50 and $3.18 to $2.06 and $2.24.
For an analyst ratings summary and ratings history on Cloud Peak Energy click here. For more ratings news on Cloud Peak Energy click here.
Shares of Cloud Peak Energy closed at $17.49 yesterday.
The company's Q4 results came in above expectations. The upside reflects stronger than expected sales volumes and cost control. CLD's FY12 EBITDA guidance ranges of $300-$375 million was much wider than analysts were predicting. The firm notes the wide range is a result of potential contract deferrals and due to the fact that roughly 6 percent of 2012 sales volumes has yet to be priced.
An analyst at Brean Murray Carret comments, "Cloud Peak remains a strong name in a harrowing time. We expect that the stock will outperform the group on the back of this quarterly update, especially given the stock's weakness over the last week."
For Q1, the firm forecasts earnings of $0.54 per share. Brean Murray Carret cut its FY12 and FY13 EPS estimates from $2.50 and $3.18 to $2.06 and $2.24.
For an analyst ratings summary and ratings history on Cloud Peak Energy click here. For more ratings news on Cloud Peak Energy click here.
Shares of Cloud Peak Energy closed at $17.49 yesterday.
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