Standpoint Research Upgrades Arch Coal Inc (ACI) to Buy
Tweet
Share
E-mailGet Alerts ACI Hot Sheet
Price: $14.79 +0.20%
Rating Summary:
23 Buy, 12 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 1
Rating Summary:
23 Buy, 12 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 1
Join SI Premium – FREE
Standpoint Research upgraded Arch Coal Inc (NYSE: ACI) from Hold to Buy.
Standpoint analyst, Ronnie Moas, said, "We dropped ACI from Buy to Hold in October and see the recent $7 (20%) correction in ACI as an opportunity to reinstate a name that we were early to exit from in Q4. Additionally, I do like the deal announced at the end of April with ACI taking over ICO for $3.4 billion...The $18 correction in crude oil prices from $114 to $96 is a buying opportunity for the medium- and long-term investor. I would not get too aggressive though … I still remember the drop from $140 to $40 three years ago as if it was yesterday."
"This name is not recommended for those who are already overweight Energy and/or with a near-term time horizon and/or with a high beta-portfolio. We are currently under-weight Energy, and looking at the $18 correction in crude as an opportunity to reduce that bet while taking a longer-term view. We now have six open recommendations in this sector and the addition reduces our underweight from 420 bps to 260 bps versus the Energy weight in the S&P-500."
For more ratings news on Arch Coal Inc click here and for the rating history of Arch Coal Inc click here.
Shares of Arch Coal Inc closed at $30.38 yesterday.
Standpoint analyst, Ronnie Moas, said, "We dropped ACI from Buy to Hold in October and see the recent $7 (20%) correction in ACI as an opportunity to reinstate a name that we were early to exit from in Q4. Additionally, I do like the deal announced at the end of April with ACI taking over ICO for $3.4 billion...The $18 correction in crude oil prices from $114 to $96 is a buying opportunity for the medium- and long-term investor. I would not get too aggressive though … I still remember the drop from $140 to $40 three years ago as if it was yesterday."
"This name is not recommended for those who are already overweight Energy and/or with a near-term time horizon and/or with a high beta-portfolio. We are currently under-weight Energy, and looking at the $18 correction in crude as an opportunity to reduce that bet while taking a longer-term view. We now have six open recommendations in this sector and the addition reduces our underweight from 420 bps to 260 bps versus the Energy weight in the S&P-500."
For more ratings news on Arch Coal Inc click here and for the rating history of Arch Coal Inc click here.
Shares of Arch Coal Inc closed at $30.38 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Barclays Upgrades Independence Realty Trust (IRT) to Overweight
- Jefferies Upgrades Salzgitter AG (SZG:GR) (SZGPY) to Buy
- Macquarie Upgrades Kinsus Interconnect Technology Corp (3189:TT) to Outperform
Create E-mail Alert Related Categories
UpgradesRelated Entities
Crude Oil, Standpoint ResearchSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
