Brean Murray Carret & Co. Upgrades Walter Energy (WLT) to Buy; Several Compelling Reasons

Brean Murray Carret & Co. upgraded Walter Energy (NYSE: WLT) from Hold to Buy with a price target of $81.00.

Analyst, Lucas Pipes, said, "Walter demostrated its ability to increase production in the U.S., bucking its recent trend of falling short of both guidance and investor expectations...Concurrent with increased production, Walter has already shown progress on the cost side during Q1, decreasing costs in the U.S. to $110/MT from $119/MT in Q4...Walter is realizing benchmark pricing for its premium quality met coal out of both the U.S. and Canada...In our opinion, WLT deserves a larger premium over its peers, especially after showing solid performance in its U.S. operations."

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 $65.98 yesterday.

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