UPDATE: Goldman Sachs Upgrades Walter Energy on Improving Risk/Reward Outlook
In a report published Friday, Goldman Sachs analyst Neil Mehta upgraded the rating on Walter Energy (NYSE: WLT) from Sell to Neutral, and raised the price target from $10.00 to $15.00.
In the report, Goldman Sachs noted, “After underperforming the S&P500 over the last two years, we upgrade WLT from Sell to Neutral. Since being added to the Americas Sell list on August 11, 2011, WLT returned -82% versus other US coal stocks of -38% and the S&P500 +45%.”
Walter Energy closed on Thursday at $13.77.
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