Dahlman Rose Upgrades Alpha Natural Resources (ANR) to Buy on Improving Met Coal Outlook

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Dahlman Rose upgraded Alpha Natural Resources (NYSE: ANR) from Hold to Buy with a price target of $12.00 on improving pricing and the emergence of potential supply disruptions in the seaborne market.

The firm comments:
"Specifically, we look to spot prices rising above the quarterly benchmark, potential supply issues in Mongolia, production cuts taking shape in the US, and continued strength in Chinese demand as catalysts to move the stocks higher. That said, our bullish met coal call is not a 4Q12 earnings call. We are looking through what we expect to be tempered commentary from coal companies during the 4Q12 earnings season."

For an analyst ratings summary and ratings history on Alpha Natural Resources click here. For more ratings news on Alpha Natural Resources click here.

Shares of Alpha Natural Resources closed at $9.94 yesterday, with a 52 week range of $5.28-$23.68.

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