UPDATE: Goldman Sachs Upgrades Walter Energy on Improving Risk/Reward Outlook

In a report published Friday, Goldman Sachs analyst Neil Mehta upgraded the rating on Walter Energy WLT from Sell to Neutral, and raised the price target from $10.00 to $15.00. In the report, Goldman Sachs noted, “After underperforming the S&P500 over the last two years, we upgrade WLT from Sell to Neutral. Since being added to the Americas Sell list on August 11, 2011, WLT returned -82% versus other US coal stocks of -38% and the S&P500 +45%.” Walter Energy closed on Thursday at $13.77.