Benchmark Co. analyst Nathan Martin maintained a Buy rating on Suncoke Energy today and set a price target of $13.00.
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Nathan Martin has given his Buy rating due to a combination of factors surrounding Suncoke Energy’s current and future prospects. Despite a miss in the second quarter’s adjusted EBITDA, which was impacted by an unfavorable mix of lower-priced spot versus contract sales and fewer tons handled at CMT, the company has reaffirmed its full-year operational guidance. This indicates management’s confidence in a recovery in the domestic coke sales mix and improved logistics volumes in the latter half of the year.
Additionally, Suncoke Energy’s strategic moves, such as the completion of the Phoenix acquisition and the expansion at KRT, are expected to bolster the company’s performance. The management’s confidence is further supported by ongoing negotiations for contract renewals and potential projects like the GPI project at Granite City. These developments, along with a slight adjustment in capital expenditure and an increase in third-quarter EBITDA estimates, contribute to Martin’s optimistic outlook on Suncoke Energy’s stock, justifying the Buy rating.
In another report released on July 25, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $9.50 price target.