Seeking Alpha

Westmoreland Coal +4.8% after Brean starts at Buy

  • Westmoreland Coal (WLB +4.8%) is initiated with a Buy rating and a $22 price target at Brean Capital, which sees WLB as an attractive cash-flow story that provides investors with unique exposure to the North American thermal coal space.
  • With steady demand from baseload power plants and west coast export optionality, the analysts believe WLB provides investors with attractive and consistent positive cash flows of ~$100M unlevered free cash flow annually, despite tough times across the industry.
  • WLB's deal last week to acquire Sherritt's Canadian coal assets in Alberta and Saskatchewan will make it the sixth largest coal producer in North America, with annualized EBITDA of $200M, the firm estimates.
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector