Walter Energy (WLT -2.6%) is downgraded to Hold from Buy at Brean Murray, which cites a reduced...

|About: Walter Energy, Inc. (WLT)|By:, SA News Editor

Walter Energy (WLT -2.6%) is downgraded to Hold from Buy at Brean Murray, which cites a reduced met coal price deck through 2014 in lowering its fair value estimate to $31 from $46. As the only pure‐play met coal producer, WLT’s exposure to reduced price estimates is significant; the firm also is concerned about high production costs at WLT's Canadian operations.