Wednesday, July 7, 2010

Walter Energy (NYSE:WLT) Upgraded by FBR Capital Markets (Nasdaq:FBCM)

At one point in the trading day Tuesday, Walter Energy Inc. (NYSE:WLT) climbed 5.9 percent, peaking around 10:30 AM EDT, as FBR Capital Markets (Nasdaq:FBCM) upgraded the company from "Market Perform" to "Outperform."

Walter Energy had been moving nice on the year until about April 15, when they reached their 52-week high of $99.45 a share. It's been downhill since then, with the company plunging in value since then.

At the end of the trading session Tuesday, Walter finished at $61.27, down slightly by $0.19, or 0.31 percent.

Walter produces coal for the steel industry.

No comments: