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Fly News Breaks for October 23, 2019
ARCH
Oct 23, 2019 | 08:04 EDT
Jefferies analyst Christopher LaFemina upgraded Arch Coal to Buy from Hold with a price target of $100, up from $80. The company yesterday reported "solid" Q3 results, largely due to very good operational performance, LaFemina tells investors in a research note. While free cash flow should trough in 2020, the headwind of met coal price weakness is mostly behind us, adds the analyst. Further, LaFemina believes Arch's operational outlook is positive, especially at Leer and Leer South and at Mountain Laurel.
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.
