After PNM Resources (PNM) announced Westmoreland Coal (WLB) will take over coal operations servicing the San Juan Generating Station in New Mexico from BHP Billiton (BHP) in early 2016, Brean Capital said it thinks these assets would be an "ideal" candidate for further dropdown to Westmoreland LP (WMLP), which the firm would expect to be an accretive transaction for Westmoreland. Brean, which views Westmoreland's track record of executing attractive acquisitions as "solid" in recent year, reiterates its Buy rating and $46 price target on the shares.