JRCC upgrade news certaily helped several coal stocks Friday
Gotta love what Sterne Agee had to say yesterday:
Sterne Agee Maintains Buy on James River Coal Despite Low Operating Margins
11:22a ET March 8, 2013 (Benzinga)
In a report published Friday, Sterne Agee reaffirmed a Buy rating and $8.00 price target James River Coal (NASDAQ: JRCC) and reduced its 2013 estimates.
Regarding valuation, Sterne Agee stated, "We believe current liquidity access should allow time for market dynamics to take hold. The shares reflect optionality upon a recovery in U.S. thermal and global metallurgical coal markets during 2013... In our equity valuation for JRCC, we have also taken into account JRCC's current market value of debt and potential for debt valuation upside over the next 12-18 months."
Shares of James River Coal are up 6.30 percent since market open at the time of this writing.
Where did you find this news...? links?? thanks, this co is far to cheap with good assets for any private equity take out, buffett, or other large coal firm...they are vunerable right now and are managed well enough to weather this storm...nat now over 3.60 and upwards..2nd half of this yr the utilites will be buying stock again and everyone will be firming up pricing..it will be a hot summer with alot of electric used...a buyout I do think will happen with JRCC due to very low insider holdings...they will not be able to stop a take out if the price is right...35 million shares at 7.00 is pocket change for PE or bigger firms...even a stock for stock transaction would be easy to get done..CNX or BTU would be in the best shape for that if they wanted to..?? Time will tell,