B. Riley lowered the firm’s price target on Arch Resources to $188 from $198 and keeps a Buy rating on the shares. The firm revised estimates and price targets in the coal group to better reflect the lower current sport pricing environment. It believes increased production cuts are nearing and that the the risk/reward for investors is compelling, “especially as there remains a shortage of high-quality met coal supply projects.”
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Read More on ARCH:
- Morning Movers: Target surges and Macy’s falls following earnings
- Arch Resources Merges with CONSOL, Forms Core Natural Resources
- Arch Resources, Consol Energy to combine in all-stock merger of equals
- Arch Resources and CONSOL Energy to Combine in All-Stock Merger of Equals to Create Core Natural Resources, a Premier North American Natural Resource Company Focused on Global Markets
- Arch Resources price target raised to $198 from $192 at B. Riley
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