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UPDATE: Goldman Sachs Initiates SunCoke Energy at Neutral

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Goldman Sachs is out with its report today on SunCoke Energy (NYSE: SXC), initiating SXC at Neutral.

In its report, Goldman Sachs writes, "We view the SXC business mix favorably as: (1) it provides coal/energy investors with a defensive investment alternative, as SXC derives the majority of its EBITDA from met coke via take-or-pay contracts with limited volume or pricing risk; (2) it has superior, relatively low-risk long-term EBITDA growth primarily driven by two coke capacity expansions; and (3) we see the potential for further upside from domestic and international coke expansions not in our estimates or valuation. However, we initiate with a Neutral rating as we see more attractive upside and near-term company-specific catalysts for Buy-rated BTU (NYSE: BTU) and CNX (NYSE: CNX)."

Goldman Sachs has an $18 PT on SXC.

Shares of SXC closed Monday at $14.28, up 2.73% from Friday's close.

 

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Posted-In: Goldman SachsAnalyst Color Price Target Initiation Analyst Ratings

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