PCX - upgraded to BUY by UBS

[v12345]

UPDATE 1-UBS raises James River Coal, Patriot Coal to buy - Forbes.com

UBS upgraded James River Coal Co and Patriot Coal Corp to 'buy' from 'neutral,' saying U.S. thermal coal prices could begin to recover in 2010.


Patriot Coal Corp (PCX.N), the third largest eastern U.S. coal producer, posted a first-quarter profit, helped by higher pricing and a jump in revenue due to the inclusion of Magnum Coal Co's results.

52 week high was $ 67.47 and current price : $ 8.73

Patriot Coal Corporation - Google Finance

[TheStockDude]

Here is the chart for you:

[babupal]

I have been in and out of PCX for sometime. The problem is, it suddenly fell from 9 in Mid May to 5 in mid June very fast. Will the current tempo of increase in PPS hold for the next few weeks? The million dollar question...