FBR Capital Reiterates an 'Outperform' on Cloud Peak Energy (CLD); Modest Beat; Solid Outlook; Raising Estimates and Target
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Price: $0.16 --0%
Rating Summary:
4 Buy, 10 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
4 Buy, 10 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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FBR Capital reiterates an 'Outperform' on Cloud Peak Energy (NYSE: CLD), raises PT from $26 to $27.
FBR analyst says, "Our investment thesis on Cloud Peak Energy is driven by its pure-play exposure to Powder River Basin (PRB) prices. PRB is our most preferred steam coal producing region, given its role in filling the void created by declining Central Appalachian coal supply. Furthermore, a potential West Coast port (longer-term export driver) could be a real game changer. Cloud Peak is one of the lowestcost operators in the region, and it has export exposure through Westshore and Ridley terminals in Canada."
"We are modestly increasing our 2011 EPS/EBITDA estimates to $1.97/$354.5M from $1.91/$353M, primarily driven by higher additional operating margin guidance, partially offset by modestly lower realizations. We are also modestly increasing our 2012 and 2013 estimates to $2.02/$367M and $2.55/$428M from $2.01/$364M and $2.45/$420M as we fine-tune our model."
For more ratings news on Cloud Peak Energy click here and for the rating history of Cloud Peak Energy click here.
Shares of Cloud Peak Energy closed at $20.18 yesterday.
FBR analyst says, "Our investment thesis on Cloud Peak Energy is driven by its pure-play exposure to Powder River Basin (PRB) prices. PRB is our most preferred steam coal producing region, given its role in filling the void created by declining Central Appalachian coal supply. Furthermore, a potential West Coast port (longer-term export driver) could be a real game changer. Cloud Peak is one of the lowestcost operators in the region, and it has export exposure through Westshore and Ridley terminals in Canada."
"We are modestly increasing our 2011 EPS/EBITDA estimates to $1.97/$354.5M from $1.91/$353M, primarily driven by higher additional operating margin guidance, partially offset by modestly lower realizations. We are also modestly increasing our 2012 and 2013 estimates to $2.02/$367M and $2.55/$428M from $2.01/$364M and $2.45/$420M as we fine-tune our model."
For more ratings news on Cloud Peak Energy click here and for the rating history of Cloud Peak Energy click here.
Shares of Cloud Peak Energy closed at $20.18 yesterday.
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