May 02, 2013 at 11:06 AM EDT
UPDATE: Morgan Stanley Upgrades Arch Coal to Equal-Weight on Highly Leveraged Balance Sheet
In a report published Thursday, Morgan Stanley analyst Evan L. Kurtz upgraded the rating on Arch Coal (NYSE: ACI ) from Underweight to Equal-Weight, and slightly raised the price target from $3.50 to $4.50. In the report, Kurtz noted, “Significant leverage to thermal coal market via PRB, W. Bit, and
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