Warrior Met Coal upgraded to Buy from Neutral at UBS

UBS upgraded Warrior Met Coal (HCC) to Buy from Neutral with a price target of $108, up from $100. The firm believes met coal prices will stay higher in the near term as weather disruptions pressure an “already tight” physical premium coking coal market. Warrior is entering an “inflection point where returns and margins look compelling,” the analyst tells investors in a research note. UBS says the company can post double-digit returns as Blue Creek ramps up. It sees further share upside considering a second longwall and higher coal prices that the market is not yet pricing in.