Market Overview

UPDATE: Bank of America Resumes SunCoke Energy at Underperform on Cautious Industry Outlook

Related SXC
SunCoke Energy Predicts Lower Q1 Output - Analyst Blog
SunCoke Energy Partners, L.P. Coke Production Estimated to Be 414 Thousand Tons in Q1 2014

Bank of America resumed coverage on SunCoke Energy (NYSE: SXC) with an Underperform rating and announced a $17.00 price objective.

Bank of America commented, "We reinstate coverage of metallurgical coke producer SunCoke (SXC) at Underperform following the spinoff of SunCoke Partners LP (SXCP), a Master Limited Partnership (MLP) containing 65% of SXC's two best performing assets. While we are positive on the MLP and SXC's continued exposure to it, we think the parent's divestiture of its best assets over time leaves it increasingly exposed to riskier coal assets and uncertain organic growth and international expansion."

SunCoke Energy closed at $17.45 on Monday.

Posted-In: Bank of AmericaAnalyst Color Initiation Analyst Ratings

 

Most Popular

Related Articles (SXC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free