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Fly News Breaks for November 8, 2018
News For HCC From the Last 2 Days
HCC
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.
