Washington H Soul Pattinson

As hinted by the title, yesterday’s review—Coal: A dark future ahead?—highlights our increasing concern about a potential oversupply in the global coal sector. In that review, we downgraded our recommendation on New Hope Corporation from Hold to Avoid (we’ve never had a positive recommendation on the stock). Given New Hope’s significance to investment company Washington H. Soul Pattinson’s valuation—outlined in Soul Patts: chemists, coal or cash? of 29 Sep 11 (Long Term Buy – $12.50)—there’s a logical follow up question; is Soul Pattinson also due a downgrade? Even after the recent New Hope share price fall, about half of...

As hinted by the title, yesterday’s review—Coal: A dark future ahead?—highlights our increasing concern about a potential oversupply in the global coal sector. In that review, we downgraded our recommendation on New Hope Corporation from Hold to Avoid (we’ve never had a positive recommendation on the stock).

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