UPDATE: IBERIA Capital Partners Downgrades Cloud Peak Energy to Sector Perform on Conservative 2014 Guidance

In a report published Tuesday, IBERIA Capital Partners analyst David E. Beard downgraded the rating on Cloud Peak Energy 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.