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UPDATE: BMO Capital Markets Reiterates Outperform Rating, Lowers PT on Walter Energy

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In a report published Monday, BMO Capital Markets reiterated its Outperform rating on Walter Energy (NYSE: WLT), but lowered its price target from $50.00 to $43.00.

BMO Capital noted, “BMO Research maintains the Outperform rating on Walter, but is lowering the target price to US$43 from US$50 based on lower Q4/12 guidance and expectations for continued cost pressures in FY2013. Walter remains the ‘goto' met story in the U.S. in an improving met coal environment. Spot benchmark met coal pricing has risen to US$160/t up from the recent lows of US$140/t in August on due to production cuts and improving Chinese demand.”

Walter Energy closed on Friday at $33.10.

Latest Ratings for WLT

DateFirmActionFromTo
Oct 2014FBR CapitalMaintainsMarket Perform
Oct 2014Bank of AmericaMaintainsUnderperform
Oct 2014Morgan StanleyDowngradesOverweightEqual-weight

View More Analyst Ratings for WLT
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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