UPDATE: Deutsche Bank Cuts OT to $2.50 on James River Coal on Q4 Miss, Weak Outlook
Deutsche Bank maintained James River Coal (NASDAQ: JRCC) with a Hold rating and lowered the price target from $3.25 to $2.50.
Deutsche Bank commented, "4Q miss on volumes & costs; outlook weak - JRCC reported 4Q adjusted EPS loss of $1.59, vs. DBe/ consensus of $1.19 loss / $1.41 loss and a loss of $1.23 loss in 3Q12. Adjusted EPS excludes 62c for goodwill impairment charge and a gain from the repurchase of outstanding debt. Following 4Q results, our forecasts have been lowered mainly to reflect lower forward shipments and we've have lowered our PT to $2.50 (was $3.25). Maintain Hold given valuation."
James River Coal closed at $2.38 on Friday.
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