B. Riley FBR downgrades SunCoke Energy to Neutral on headline risks

B. Riley FBR analyst Lucas Pipes downgraded SunCoke Energy to Neutral from Buy and lowered his price target for the shares to $8 from $12. The analyst sees a number of events that present "significant headline risk" for the stock as well as a lack of near-term positive catalysts. First, the terms at which SunCoke will renegotiate its contracts with two key customers expiring over the next two years is unclear, Pipes tells investors in a research note. Second, the company has significant counterparty risk at the Convent Marine Terminal, as its two customers could potentially enter a restructuring process in the near term, adds the analyst.