BMO Capital downgraded Arch Resources to Market Perform from Outperform with a price target of $165, down from $180. The stock’s risk/reward has “tilted more negative,” the analyst tells investors in a research note. The firm believes the ongoing shutdown of the Baltimore port coupled with a meaningful decline in coal prices are likely to translate to disappointing results and somewhat limit near-term shareholder return potential.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARCH:
- Arch Resources price target lowered to $185 at Jefferies after bridge collapse
- Arch Resources price target lowered to $185 at Jefferies after bridge collapes
- Consol Energy sinks following collapse of bridge in Baltimore
- Arch Resources Announces Strategic Executive Appointment
- Arch Resources appoints George Schuller Jr. as COO