Information Provided By:
Fly News Breaks for April 27, 2018
ARCH
Apr 27, 2018 | 07:58 EDT
MKM Partners analyst Daniel Scott lowered his price target on Arch Coal to $107 after the company's miss on Q1 earnings, revenue, and EBITDA driven by "lower than expected coking coal shipments, lower realized prices, and higher costs". Scott keeps his Buy rating however, saying the selloff in the stock is overdone given that Arch Coal "boasts one of the cleanest balance sheets in our coverage and is focused on return of capital to shareholders".