Market Overview

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

Related CLD
U.S. Stocks Look To Recover Following Malaysian Airline Crash; Energy Stocks Were Relative Laggards
U.S. Stocks Tumble Following Malaysian Plane Crash; AutoNation Falls On Downbeat Earnings

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.

Posted-In: David E. Beard Iberia Capital PartnersAnalyst Color Downgrades Analyst Ratings

 

Most Popular

Related Articles (CLD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters