December 11, 2012 at 12:35 PM EST
UPDATE: Davenport Upgrades Walter Energy to Buy on Met Coal Strength
Davenport raised its rating on Walter Energy (NYSE: WLT ) from Neutral to Buy and established a $42 price target. Davenport noted, "The upgrade is based on our view that WLT's valuation multiple will peak in 2013, driven by a recovery in met coal prices. We expect a
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