WHC has been tracking sideways over the last year, albeit in a volatile $2.80 range. Six weeks ago, UBS significantly upgraded the stock, increasing its price target to $8.70—so far, so good. Like UBS, we remain bullish towards metallurgical (Met) coal, helped by increasing demand from China and India, plus MM believes the transition to zero emissions will be a longer journey than many hope/think, which will benefit fossil fuels.
- We believe WHC could test $9 in the months ahead or 15% higher – MM owns WHC in our Active Growth Portfolio.
MM remains long and bullish WHC
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