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Fly News Breaks for November 30, 2018
ARCH
Nov 30, 2018 | 07:26 EDT
BMO Capital analyst David Gagliano initiated Arch Coal with a Market Perform rating and a price target of $95, noting its position as the 2nd largest coal producer in the U.S. based on volume. The analyst believes that the "new" post-bankruptcy Arch is a "well-capitalized met/thermal coal producer that can flourish in periods of strong prices, and withstand periods of weak prices." Gagliano adds however that the expectations of BMO Commodities team for met coal prices to fall about 30% by the end of 2019 is keeping him on the sidelines.
News For ARCH From the Last 2 Days
ARCH
Apr 17, 2024 | 16:41 EDT
Citi downgraded Arch Resources (ARCH) to Neutral from Buy with a price target of $170, down from $185. The stock is currently trading at an 11% free cash flow yield on $250 per ton hard coking coal, which represents fair value. The firm now sees equal upside and downside risks. Its preference for met coal exposure is Warrior Met Coal (HCC), which it notes is trading at a 17% yield post Blue Creek, which will start to be delivered in 2024.
