Whitehaven Coal's (ASX:WHC) softer run-of-mine coal production was offset by better-than-expected shipments, supported by de‐bottlenecked logistics and a modest stock draw, said Jefferies in an Oct. 24 note.

The company reported that its managed run-of-mine coal production fell to 9 million tonnes in the fiscal first quarter, down from 9.7 million tonnes in the year-earlier period.

Jefferies added that the company's sales were 21% better than its estimates and 27% better than Visible Alpha estimates, with opening inventory and better port throughput.

Jefferies maintained a buy rating on Whitehaven Coal and increased its price target to AU$8 from AU$7.80.

Whitehaven Coal's shares fell past 1% in recent Monday trade.