Patriot Coal (NYSE:PCX) was downgraded by Brean Murray from "Buy" to "Hold," citing pricing and costs.
Brean said, "This downgrade is mostly due to our less bullish pricing expectations for lower-quality met coal and continued production/cost uncertainty. Patriot has had a number of unexpected issues over the past 4 months, resulting in low investor sentiment. We believe it's now a bit of a 'Show-Me' story."
Investors shrugged off the downgrade, as Patriot surged to close Wednesday at $13.24, gaining $0.75, or 6 percent.
Showing posts with label Brean Murray. Show all posts
Showing posts with label Brean Murray. Show all posts
Thursday, October 7, 2010
Massey (NYSE:MEE), Alpha Natural Resources (NYSE:ANR), International Coal (NYSE:ICO), Cloud Peak (NYSE:CLD) Now Covered by Brean Murray
Brean Murray initiated coverage on a number of coal stocks, including Cloud Peak Energy (NYSE:CLD), International Coal Group (NYSE:ICO), Alpha Natural Resources (NYSE:ANR) and Massey Energy (NYSE:MEE).
Alpha Natural Resources is the top pick in the sector, with Massey coming in right behind them said Brean.
Coud and International Coal were started off with a "Hold," while Massey was initiated with a "Buy."
Brean said, "While Alpha Natural Resources (NYSE:ANR) is our official top pick, we'd have to say Massey is a close second. In our view, the regulatory pressures are largely priced into the stock, so that the risk-reward balance is now favoring investors who own the stock, in our view. The company's growing met coal exposure and leading Central Appalachian position make its assets among the most attractive in our universe."
Massey was among the top performers Wednesday, closing at $33.82, gaining $1.94, or 6.09 percent. Brean has a price target of $39 placed on them.
Alpha Natural Resources is the top pick in the sector, with Massey coming in right behind them said Brean.
Coud and International Coal were started off with a "Hold," while Massey was initiated with a "Buy."
Brean said, "While Alpha Natural Resources (NYSE:ANR) is our official top pick, we'd have to say Massey is a close second. In our view, the regulatory pressures are largely priced into the stock, so that the risk-reward balance is now favoring investors who own the stock, in our view. The company's growing met coal exposure and leading Central Appalachian position make its assets among the most attractive in our universe."
Massey was among the top performers Wednesday, closing at $33.82, gaining $1.94, or 6.09 percent. Brean has a price target of $39 placed on them.
Tuesday, September 21, 2010
Consolidated Water (Nasdaq:CWCO) Upgraded by Brean Murray
Brean Murray Carret & Co. analyst Michael Gaugler upgraded Consolidated Water (Nasdaq:CWCO) from "Hold" to "Buy," citing valuation.
Gaugler said, "In the past six weeks the shares have dropped 27%
and are now trading at their historically low P/E levels. The
compelling valuation is backed by a few other key items of interest
which include: 1) shares trading below book value; 2) strong balance
sheet; and 3) potential upside to current estimates if the company
returns to operate the Baugher Bay plant in BVI."
The bottom line is Consolidated may be an acquisition target on these prices.
"The company is now looking like an attractive acquisition candidate, given we believe the shares are now trading at the liquidation value of the assets," Gaugler said.
Gaugler has a price target of $12 on the company.
Gaugler said, "In the past six weeks the shares have dropped 27%
and are now trading at their historically low P/E levels. The
compelling valuation is backed by a few other key items of interest
which include: 1) shares trading below book value; 2) strong balance
sheet; and 3) potential upside to current estimates if the company
returns to operate the Baugher Bay plant in BVI."
The bottom line is Consolidated may be an acquisition target on these prices.
"The company is now looking like an attractive acquisition candidate, given we believe the shares are now trading at the liquidation value of the assets," Gaugler said.
Gaugler has a price target of $12 on the company.
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