KeyBanc Capital Markets Downgrades Walter Energy: Hold

KeyBanc Capital Markets downgraded its Walter Energy WLT rating from Buy to Hold and removed its Walter Energy price target of $165 in a research report published today. In the report, KeyBanc states, "We believe a meaningful correction will be in store in Thursday morning trading, but we do not believe an Underweight rating is appropriate despite the near-term disconnect between near-term expectations and operational realities." Shares of Walter Energy were trading at $86.83 at the time of posting, down 21.50% from Wednesday's market close.