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UPDATE: BMO Capital Markets Downgrades Cloud Peak Energy to Market Perform on Share Price Appreciation

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BMO Capital Markets reduced its rating on Cloud Peak Energy (NYSE: CLD) from Outperform to Market Perform but raised its price target from $22 to $23.

BMO Capital Markets commented, "Cloud Peak has an excellent position as the lowest-cost producer in the lowest-cost U.S. coal basin coupled with a strong balance sheet and management team. BMO Research's thesis when we upgraded the stock in March was that as the lowest-cost producer in the PRB, CLD could compete at very low natural gas pricing and would outperform peers. Now that natural gas has rebounded and the coal market appears to be strengthening, Cloud will still benefit, but higher-cost peers may now be the outperforming stocks."

Cloud Peak Energy closed at $21.20 on Friday.

Latest Ratings for CLD

DateFirmActionFromTo
Nov 2016Seaport GlobalInitiates Coverage OnNeutral
Jul 2016FBR CapitalMaintainsUnderperform
Feb 2016FBR CapitalUpgradesUnderperformMarket Perform

View More Analyst Ratings for CLD
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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