UPDATE: IBERIA Capital Partners Downgrades Cloud Peak Energy on Conservative 2014 Guidance
In a report published Tuesday, IBERIA Capital Partners analyst David E. Beard downgraded the rating on Cloud Peak Energy (NYSE: CLD) from Outperform to Sector Perform.
In the report, IBERIA Capital Partners noted, “Substantial EBITDA and EPS cuts are driven by higher mining costs, higher DD&A rates, and higher book interest expense. Unless CLD increases shipments into 2015 by expanding shuttered mine (Cordero Rojo) production, we do not expect much improvement in EBITDA, despite higher prices. Thus, we rate the CLD stock as Sector Perform (was Outperform).”
Cloud Peak Energy closed on Friday at $18.90.
Latest Ratings for CLD
|Dec 2016||MKM Partners||Initiates Coverage On||Neutral|
|Nov 2016||Seaport Global||Initiates Coverage On||Neutral|
|Jul 2016||FBR Capital||Maintains||Underperform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.