Sterne Agee Maintains Neutral, $90 Target on Walter Energy

Sterne Agee reiterates its neutral rating and $90 target price on Walter Energy

following Q4 results. Sterne Agee says, "Walter missed our 4Q estimates on higher than expected production costs. Management continues to expect 2012 met coal production in the 11.5-13.0 million metric tons range. We feel comfortable with Walter's 2012 production outlook. We believe Walter Energy's risk/reward profile appears more balanced at current levels." WLT closed at $66.64 a share on Tuesday.