UPDATE: Goldman Sachs Reiterates on Walter Energy on Recent Pullback in Commodity Pricing

In a report published Wednesday, Goldman Sachs analyst Neil Mehta reiterated a Neutral rating on Walter Energy (NYSE: WLT ), but lowered the price target from $18.00 to $16.00. In the report, Goldman Sachs noted, “We now assume a slightly lower EV/EBITDA multiple on normalized earnings for WLT, using $175/MT