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Fly News Breaks for October 23, 2019
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.
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