Nomura Securities Starts Walter Energy (WLT) at Neutral

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March 2, 2012 8:36 AM EST
Get Alerts WLT Hot Sheet
Price: $0.16 --0%

Rating Summary:
    1 Buy, 16 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 12 | New: 12
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Nomura Securities initiates coverage on Walter Energy (NYSE: WLT) with a Neutral. PT $70.00.

Analyst, Curt Woodworth, said, "Upside for WLT is limited at current levels, as we expect to see price moderation in coking coal in 2012 as Australian supply recovers. While we think Walter is on the verge of a strong operational turnaround, we view its current valuation as rich at 7.0x 2012E EV/EBITDA. FY12E/13E revenues $2909m / $3108m; 2012E/2013E EPS $6.10 / $7.90."

For an analyst ratings summary and ratings history on Walter Energy click here. For more ratings news on Walter Energy click here.

Shares of Walter Energy closed at $64.88 yesterday.

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