Goldman Sachs Upgrades Arch Coal Inc (ACI) to Neutral

May 7, 2013 7:55 AM EDT
Get Alerts ACI Hot Sheet
Price: $0.58 --0%

Rating Summary:
    9 Buy, 13 Hold, 12 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Goldman Sachs upgraded Arch Coal Inc (NYSE: ACI) from Sell to Neutral with a price target of $5.00 saying shares will likely outperform met stocks but lag thermal peers.

"We remain concerned about ACI's weak balance sheet and our view it will have limited ability to invest in organic growth due to its high leverage and modest FCF," analyst Brian Singer said. "However we believe those concerns are increasingly discounted in shares following underperformance and see ACI as unlikely to lag Sell-rated met stocks in the near to medium term due to greater leverage to our tactically positive view of US thermal coal."

For an analyst ratings summary and ratings history on Arch Coal Inc click here. For more ratings news on Arch Coal Inc click here.

Shares of Arch Coal Inc closed at $5.21 yesterday.

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