Warrior Met Coal (HCC) PT Raised to $70 at Jefferies
Jefferies analyst Christopher LaFemina raised the price target on Warrior Met Coal (NYSE: HCC) to $70.00 (from $53.00) while maintaining a Buy rating.
The analyst comments "Warrior reported 2Q EBITDA of $53.6M, significantly beating expectations. The beat came largely as a result of Blue Creek volumes entering the market earlier than expected, leading to higher-than-expected sales volumes and lower-than-expected unit costs in 2Q, offsetting weakness in realized prices. The ramp-up of Blue Creek to full capacity will be transformational for Warrior, in our view. A recovery in met coal prices will eventually help as well. Buy HCC."