UPDATE: Seaport Global Securities Starts Alliance Resource Partners (ARLP) at Buy

October 31, 2016 8:58 AM EDT
Get Alerts ARLP Hot Sheet
Price: $24.10 +3.66%

Rating Summary:
    6 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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(Updated - October 31, 2016 9:34 AM EDT)

Seaport Global Securities initiated coverage on Alliance Resource Partners (NASDAQ: ARLP) with a Buy rating and a price target of $29.

Analyst Mark A. Levin said, "After many miserable years, US coal equities are on a hot streak. When the dust eventually settles (and it almost assuredly will), we think there are few coal companies that investors can go to sleep at night more comfortably with than ARLP. For one, we believe the management team is top notch, consistently underpromising and overdelivering. Second, the balance sheet is pristine with net debt/TTM EBITDA at only 1.1x. Three, the distribution is well covered; we estimate 1.6x in 2017. Four, it is the 800pound gorilla in the only coal basin with real growth potential. Finally, the valuation, while certainly not as attractive as it was before the stock's hyperbolic 78% YTD move (S&P 500 = +4%), is compelling."

For an analyst ratings summary and ratings history on Alliance Resource Partners click here. For more ratings news on Alliance Resource Partners click here.

Shares of Alliance Resource Partners closed at $24.00 yesterday.



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