Walter Energy Started as a “Buy” at Bank of America/Merrill Lynch (WLT)

Coal producer Walter Energy, Inc. (WLT) on Wednesday caught some positive commentary from analysts at Bank of America/Merrill Lynch.

The firm said it started coverage on WLT with a “Buy” rating and a $75 price target, suggesting an 18% upside to the stock’s Tuesday closing price of $63.54. Bank of America/Merrill Lynch noted it likes the company now because it has less energy exposure than its peers in the coal space.

Walter Energy shares rose $1.25, or +2%, in early trading Wednesday.

The Bottom Line
Shares of Walter Energy (WLT) have a .79% dividend yield, based on last night’s closing stock price of $63.54. The stock has technical support in the $57-$60 price area. If the shares can firm up, we see overhead resistance around the $70-$72 price levels.

Walter Energy, Inc. (WLT) is not recommended at this time, holding a DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here