TD Cowen Downgrades Alpha Metallurgical Resources (AMR) to Market Perform, 'Share Price, Intrinsic Value Have Converged'

TD Cowen analyst Lance Vitanza downgraded Alpha Metallurgical Resources (NYSE: AMR) from Outperform to Market Perform with a price target of $194.00 (from $200.00).

The analyst comments "Shares have rallied considerably since last summer, as Alpha has in our view done an excellent job managing met coal price compression while returning cash flows to shareholders on an expedited yet prudent basis. We expect more of the same going forward but downgrade to Market Perform as the discount between share price and intrinsic value per our DCF analysis has closed considerably."

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

Shares of Alpha Metallurgical Resources closed at $195.94 yesterday.

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• LG Electronics India (LGEL:IN) PT Raised to INR1,815 at ICICI Securities
• Honasa Consumer Ltd (HONASA:IN) PT Raised to INR720 at ICICI Securities