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
|Mar 2015||Brean Capital||Downgrades||Buy||Hold|
|Feb 2015||Stifel Nicolaus||Maintains||Buy|
|Oct 2014||Stifel Nicolaus||Maintains||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.