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Walter Energy, Inc. (WLT)
by Zacks Equity ResearchNovember 29, 2012 | Comments : 0 Recommended this article: (0)
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The global economic stalemate is expected to linger, thereby dragging down the company's sales and profit. Declining sales resulting in coal stockpiles would prove unprofitable for the company in the short term. This, along with the company's narrow capex outlook for 2013 is expected to shake investor confidence.
We remain bearish for the company stock in the long run. Our $26.00 target price is based on 2.4x trailing 12-month cash flow per share.