Deutsche Bank Downgrades Alliance Resource Partners (ARLP) to Hold

Deutsche Bank downgraded Alliance Resource Partners (NASDAQ: ARLP) from Buy to Hold with a price target of $73.00.

The firm comments, "ARLP has increased 28% YTD and is the best performing coverage stock via defensive business characteristics & dividend. However, we now find its yield benefits as less attractive, dividend growth slowing in the medium-term and limited total return upside. Meanwhile, coverage stocks are trading at 10x and 7x our '13-14 EBITDA ests and our '14-based PTs translate to 8x for Coal and 7x for Metals/Steel. Key risks are FX rates, commodity demand & pricing, supply growth, operating costs, supply-chain inventories, public policy etc."

For an analyst ratings summary and ratings history on Alliance Resource Partners click here. For more ratings news on Alliance Resource Partners click here.

Shares of Alliance Resource Partners closed at $73.77 yesterday.

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