Dahlman Rose Upgrades Walter Energy (WLT) to Buy on Improving Met Coal Outlook
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Price: $0.16 --0%
Rating Summary:
1 Buy, 16 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 16 | New: 15
Rating Summary:
1 Buy, 16 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 16 | New: 15
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Dahlman Rose upgraded Walter Energy (NYSE: WLT) from Hold to Buy with a price target of $48.00 on improving pricing and the emergence of potential supply disruptions in the seaborne market.
The firm comments:
"Specifically, we look to spot prices rising above the quarterly benchmark, potential supply issues in Mongolia, production cuts taking shape in the US, and continued strength in Chinese demand as catalysts to move the stocks higher. That said, our bullish met coal call is not a 4Q12 earnings call. We are looking through what we expect to be tempered commentary from coal companies during the 4Q12 earnings season."
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 $38.62 yesterday.
The firm comments:
"Specifically, we look to spot prices rising above the quarterly benchmark, potential supply issues in Mongolia, production cuts taking shape in the US, and continued strength in Chinese demand as catalysts to move the stocks higher. That said, our bullish met coal call is not a 4Q12 earnings call. We are looking through what we expect to be tempered commentary from coal companies during the 4Q12 earnings season."
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 $38.62 yesterday.
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