B.Riley FBR analyst Lucas Pipes maintained a Buy rating on Suncoke Energy Inc (SXC) today and set a price target of $14. The company’s shares opened today at $9.06.
Pipes commented:
“We recently hosted investor meetings for $19 PT). Fay West (SVP and Kellogg (Treasurer, Relations) represented the company. Much of the discussion centered around the ramifications of SunCoke’s upcoming simplification transaction and what this will mean for both SXC shareholders and SXCP unitholders. Management expects the transaction to lower the company’s cost of equity capital, remove constraints on growth stemming from MLP qualifying income rules, reduce its debt load to 3x gross EBITDA, and realize significant cost synergies. In addition, we believe that it is increasingly evident that the company’s efforts to rebuild its Indiana Harbor facility are not fully appreciated by the market.”
According to TipRanks.com, Pipes is a 2-star analyst with an average return of 0.1% and a 46.9% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, CONSOL Coal Resources LP, and Teck Resources Limited.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Suncoke Energy Inc with a $14 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $14.32 and a one-year low of $7.63. Currently, Suncoke Energy Inc has an average volume of 525.1K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
SunCoke Energy, Inc. is engaged in the production of coke through heating metallurgical coal in a refractory oven. It operates through the following segments: Domestic Coke, Brazil Coke and Logistics.
