Dahlman Rose Reiterates Hold Rating on Cloud Peak Energy (CLD)

Dahlman Rose is out with a research report, where it reiterates its Hold rating on Cloud Peak Energy (NYSE: CLD); it did not provide a price target for the stock. The analysts said, “Cloud Peak reported 3Q10 adjusted EBITDA of $94MM versus our forecast and consensus of $75MM and $80MM, respectively. Cash per-ton costs were $8.36, flat sequentially and well below our $8.83 estimate. Higher volumes and productivity improvements resulting from several long-term initiatives were cited as being behind the impressive number. They added, “Management believes that cost increases will continue to remain modest going forward excluding higher sales sensitive costs and the potential for higher diesel fuel pricing.”