Citi upgraded Warrior Met Coal to Buy from Neutral with a price target of $75, up from $60, after incorporating Blue Creek volumes into the target price. The analyst remains mid-term constructive on met coal as a play on stronger Indian steel production. Warrior Met Coal’s Blue Creek project is still on track for first production in the second half of 2024 and shipments in mid-2025, the analyst tells investors in a research note.
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