Jefferies Starts Arch Coal (ACI) at Buy

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Jefferies initiates coverage on Arch Coal (NYSE: ACI) with a Buy. PT $30.00.

The firm said the market is much too bearish with regard to the sustainability of Powder River Basin coal prices. "As this skepticism declines, we expect ACI shares to trade higher," the firm said.

For more ratings news on Arch Coal click here and for the rating history of Arch Coal click here.

Shares of Arch Coal closed at $19.14 yesterday, with a 52 week range of $16.91-$36.99.

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