Market Overview

UPDATE: Iberia Capital Partners Downgrades Walter Energy to Sector Perform, Removes PT

Related WLT
Dominion Resources Black Warrior Trust Offers Updated Info on Walter Energy Bankruptcy Proceedings
After-Close Market Update: US Stocks Edge Higher; Walter Energy Shares Drop On Downbeat Results

In a report published Wednesday, Iberia Capital Partners downgraded its rating on Walter Energy (NYSE: WLT) from Outperform to Sector Perform and removed its $40.00 price target.

Iberia Capital Partners noted, “We are downgrading WLT ($38.78–SP) shares, as the stock has hit our $40/share Target Price. No change to estimates. We do not carry Target Prices for our Sector Perform stocks...WLT is still the pure play levered to coking coal. We believe the Chinese steel market will continue to grow, despite fears of the contrary. WLT's shares are one of the best ways to participate in this trend. We would look to build positions in the low- to mid-$30s/share”

Walter Energy closed on Tuesday at $38.78.

Latest Ratings for WLT

Oct 2014BB&T CapitalDowngradesHoldUnderweight
Oct 2014FBR CapitalMaintainsMarket Perform
Oct 2014Bank of AmericaMaintainsUnderperform

View More Analyst Ratings for WLT
View the Latest Analyst Ratings

Posted-In: Iberia Capital PartnersAnalyst Color Downgrades Analyst Ratings


Related Articles (WLT)

View Comments and Join the Discussion!