SunCoke Energy downgraded to Neutral from Buy at B. Riley

B. Riley analyst Lucas Pipes downgraded SunCoke Energy to Neutral from Buy with a price target of $11, down from $12. While the company performed well once again in Q2 and management expects full-year results at the high end of its guidance range, a lack of catalysts, modest capital returns relative to industry expectations, and impacts from lower seaborne coke, met coal, and thermal coal prices all serve as possible headwinds, the analyst tells investors in a research note. The firm believes the equity is fully priced at current levels and “new capital demands a lower entry point.”