With production of coal leveling off, Goldman Sachs (NYSE:GS) downgraded Mechel (NYSE:MTL) from "Buy" to "Neutral."
Goldman said they see a lack of upside for the company because of decreased catalysts to give coal momentum.
Seaborne coking coal and Russian markets were cited also as reasons to be Neutral on Mechel. Coal production has normalized giving little reason to think that'll change in the near term.
Goldman did upwardly revise their price target on the coal company from $29 to $30.
No comments:
Post a Comment