In another blow to coal stocks, BAML lowers its forecast for 2013 coking coal prices to...

|By:, SA News Editor

In another blow to coal stocks, BAML lowers its forecast for 2013 coking coal prices to $185/metric ton from $220/metric ton; demand is down, supply is up, and the pressure doesn’t look like it’s abating, the firm says. BTU and WLT are downgraded, and ACI and CNX are maintained at Underperform, but ANR remains at Buy as "the risk/reward looks favorable and cash flows [are] OK.”