Societe Generale Initiates Arch Coal Coverage
Societe Generale initiated Arch Coal (NYSE: ACI) coverage with a Buy rating and $30 price target in a research report published today.
In the report, Societe Generale states, "We rate the stock a Buy in view of its met coal exposure: we believe met coal pricing is more sustainable than thermal pricing, as higher end met coal product is not substitutable by other readily available energy sources like natural gas."
Shares of Arch Coal were trading at $26.13 at the time of posting, up 1.24% from Tuesday's market close.
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