Deutsche Bank Reports on James River Coal
Deutsche Bank commented on James River Coal (NASDAQ: JRCC) in a report released today. In the report, Deutsche Bank was positive in its outlook of the company.
Deutsche Bank writes, “We are initiating coverage of James River Coal with a Buy rating a PT of $27. James River is an Appalachian and Illinois Basin producer that should grow production from 8.9m tons in '10 to 14.4m tons in '12 as a result of its recent acquisition of IRP, demand growth for met coal and a gradual recovery for its legacy thermal operations. We rate James River a Buy given valuation and an improving longer-term earnings outlook.”
Deutsche Bank currently has a Buy rating on James River Coal and a price target of $27. Shares of JRCC closed the trading day at $21.42 yesterday, up from $20.87 at open.
