Barclays Cuts Estimates and PT on Arch Coal Inc (ACI); Coal Isn't Dead, However...
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Price: $19.91 --0%
Rating Summary:
16 Buy, 20 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 17 | New: 4
Rating Summary:
16 Buy, 20 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 17 | New: 4
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Barclays maintains an 'Equalweight' on Arch Coal Inc (NYSE: ACI) price target of $8.00 (from $10.00).
Analyst, David Gagliano, said, "Similar to the other coal producers that have reported results thus far, we are lowering our estimates sharply following Q2 results. Clearly there are signs of life in the PRB, consistent with our view that thermal coal isn't 'dead'. However, after factoring in more realistic metallurgical coal pricing expectations (still the main engine for ACI's total EBITDA), and given the supply-side response to the recovery in PRB demand, we believe ACI shares are relatively closer to fair value."
FY12 EPS estimate is lowered from (0.22) to (0.34) and FY13 from $0.66 to (0.14)
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 $6.80 yesterday.
Analyst, David Gagliano, said, "Similar to the other coal producers that have reported results thus far, we are lowering our estimates sharply following Q2 results. Clearly there are signs of life in the PRB, consistent with our view that thermal coal isn't 'dead'. However, after factoring in more realistic metallurgical coal pricing expectations (still the main engine for ACI's total EBITDA), and given the supply-side response to the recovery in PRB demand, we believe ACI shares are relatively closer to fair value."
FY12 EPS estimate is lowered from (0.22) to (0.34) and FY13 from $0.66 to (0.14)
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 $6.80 yesterday.
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