MKM Partners analyst Daniel Scott raised his price target on Warrior Met Coal (HCC) to $38 and kept his Buy rating as part of his broader research note titled "Coking Coal Staying Strong." The analyst maintains his multi-quarter view that the market for coking coal is "resilient" and demand is experiencing "continued strength" amid slow supply response from producers in Australia, U.S., and Canada. Scott adds that the $200 per metric ton price level is close to becoming a "new normal", while noting that valuation on the coking coal stocks is still "well below mid-cycle ranges". As part of his research note, the analyst also raises his FY19 and FY20 revenue and EBITDA forecasts for Peabody Energy (BTU) and Teck Resources (TECK).

In the firm's Q1 letter to investors, David Einhorn's Greenlight Capital disclosed new long positions taken during the quarter, including taking stakes in HP Inc. (HPQ), Penn Entertainment (PENN) and Roivant Sciences (ROIV). In the letter, the firm stated that it established a new "medium-sized position" in Penn at an average price of $22.69 per share, arguing that "were the market to credit PENN with merely 15% of DraftKings' value, [Penn's ESPN BET] segment alone would be worth $20 per share." On HP Inc., Greenlight stated that it had established an initial position at an average price of $30.76 per share, adding that it believes "that we are, at a minimum, on the cusp of a normal PC refresh cycle, which should drive earnings above estimates." On Roivant, Greenlight said it had established a "small long position," adding that "in addition to an exciting pipeline, ROIV has a strong track record of positive trial results and successful monetization of pharmaceutical assets." Einhorn's Greenlight Capital also noted that it reduced its Teck Resources (TECK) long position into strength during Q1 and that the firm bought a "small position" in Liberty Global (LBTYA) during Q1.