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Cloud Peak Energy reiterated a Buy at Stifel following earnings miss

May 01, 2017 3:25 PM ETCloud Peak Energy Inc. (CLD) StockCLDPQBy: Carl Surran, SA News Editor4 Comments
  • Cloud Peak Energy (CLD +5.2%) rebounds from its post-earnings slide, as Stifel reiterates a Buy rating on the stock, although it lowers its price target to $7 from $7.25.
  • Stifel says the Q1 EBITDA miss was driven by lower than expected export volumes, which the company blamed on severe weather in the Pacific Northwest, which impacted rail performance; the reduced export shipment rate also caused lost shipments of potentially high margin export sales during a period of generally strong export market conditions for thermal coal, as well as triggering minimum payment obligations and demurrage charges.
  • Due to the reduced export deliveries in Q1, CLD lowered the high end of its 2017 EBITDA forecast to $80M-$110M vs. its prior range of $80M-$120M.

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