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Fly News Breaks for November 8, 2018
HCC
Nov 8, 2018 | 07:23 EDT
MKM Partners analyst Daniel Scott upgraded Warrior Met Coal to Buy from Neutral and raised his price target to $37 from $31 as part of his broader research note titled "Coking Coal Still on a Roll". The analyst notes that "under-investment by the industry during the down times and discipline since the recovery" have led to a coking coal price increase from below $80/MT four years ago to $180/MT now. Scott states that as the only pure play coking coal name in his coverage, Warrior Met Coal has the biggest impact from his increase in price assumptions. The analyst is also positive on its "attractive organic growth opportunities adjacent reserves in the Blue Creek seam in Alabama".
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