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UPDATE: Macquarie Raises PT on Cloud Peak Energy as Reduced Natural Gas Volatility Brings PRB Pricing Power


In a report published Tuesday, Macquarie Capital analyst Luke McFarlane reiterated an Outperform rating on Cloud Peak Energy (NYSE: CLD), and raised the price target from $18.00 to $19.00.

In the report, Macquarie Capital noted, “We increase CLD's TP to $19, from $18, and it remains our Top Pick. We continue to view CLD as the safe haven in the group, with every $1/t move in PRB potentially impacting 2014 earnings by ~25-cents per share or ~30%. It is interesting that even CLD will likely opt to carry 0-10% of unpriced tons into 2014, different from prior years, giving management enough surety around its cost base while still providing some pricing upside potential.”

Cloud Peak Energy closed on Monday at $16.44.

Latest Ratings for CLD

Oct 2018BMO CapitalMaintainsMarket PerformMarket Perform
Jul 2018B. Riley FBRMaintainsNeutralNeutral
Jul 2018BMO CapitalMaintainsMarket PerformMarket Perform

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