January 30, 2026 - Warrior Met Coal (HCC) +3.4% in Thursday's trading as UBS upgraded shares to Buy from Neutral with a $108 price target, raised from $100, saying the company is entering an inflection point where returns and margins look compelling.

UBS analysts led by George Eadie say Warrior (HCC) can deliver double-digit returns from H2 as the Blue Creek steelmaking coal project in Alabama ramps up, with further upside considering a second longwall and higher coal prices that the market is not yet pricing in.

Eadie said he expects Warrior (HCC) to guide conservatively for its 2026 outlook in two weeks but sees upside to 2026-27 consensus estimates, supported by elevated prices and operational performance.

"As Warrior delivers saleable tons at Blue Creek in H2 2026 and investors see the strong margins [and] returns outlook, we see upside to the shares ahead of further considerations for growth and returns in 2027" and beyond, Eadie wrote.