Alpha Metallurgical price target lowered to $183 from $272 at B. Riley

B. Riley lowered the firm’s price target on Alpha Metallurgical (AMR) to $183 from $272 and keeps a Buy rating on the shares. The firm cut estimates for the met coal names ahead of the Q1 results. On average, its Q1estimates moved lower by 29%. In the upcoming prints, investors will remain focused on margins in the current environment and the implications for potential production cuts later in the year should market conditions remain stagnant or worsen, the analyst tells investors in a research note. While U.S. met exports to China have already begun the re-routing process, the threat of any broad tariff regime raises concerns about global growth and met coal demand, adds B. Riley.