Walter Energy (WLT) Closes on Lows; Target Cut to $6 at CLSA

CLSA maintained a Sell rating on Walter Energy (NYSE: WLT) and cut its price target to $6.00 (from $13.00). The cut follows a Q2 operations update and news late on Tuesday that the company cuts its dividend and announced its credit facility has been amended. Analyst David Lipschitz expects cash to be tight for several years and warned about serious liquidity issues if coking coal prices don't move higher.

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 $14.09 yesterday.

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