Jennings cut forecast to $4 from $5.50From globe
Despite near-term worries about the demand for metallurgical coal, Jennings Capital Inc. analyst Russell Stanley believes Cline Mining Corp. () “is substantially undervalued at current levels.” While tempering his price outlook on the stock, he is encouraged by the company reiterating its production guidance for fiscal 2011 and 2012 and rates it as a “speculative buy.”
Upside: Mr. Stanley cut his 12-month price target by $1.50 to $4.