I touched on WHC this time last week and the stock has already rallied another 10% taking it back towards its 12-month high however when we consider the coal price has more than doubled over the same timeframe it shouldn’t be a major surprise. Even as numerous fund managers stampede away from fossil fuels we believe that WHC has some significant pent up catch up potential, to say its lagged the coal price is a huge understatement. The change in investment landscape may mean the relative gap between coal & WHC becomes wider than in previous years but we feel the gap is simply too wide at this point in time.
MM is bullish WHC initially targeting the $2.10 resistance area, another ~15% higher
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