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WHC - Macquarie rates the stock as Underperform
BY BROKER NEWS - 18/04/2017 | VIEW MORE BROKER UPDATES

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WHC - WHITEHAVEN COAL LIMITED


March quarter operations were broadly in line with expectations, although sales were slightly lower than Macquarie expected. The broker observes the company has been the beneficiary of a strong rally in coal prices as well as its own operating success.

Nevertheless, it appears the company has to offer larger discounts to be able to increase semi-soft sales in the market. Hence, although Macquarie acknowledges the company will re-gain some revenue from emptying inventories in the fourth quarter, significantly higher prices are not expected.

Rating is downgraded to Underperform from Neutral. Target is reduced to $2.70  from $2.80.

Sector: Energy.

Target price is $2.70.Current Price is $2.98. Difference: ($0.28) - (brackets indicate current price is over target). If WHC meets the Macquarie target it will return approximately -10% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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