UPDATE: Brean Murray Carret Upgrades Alpha Natural Resources to Buy on Upside to Risk/Reward
Brean Murray Carret raises its rating on Alpha Natural Resources (NYSE: ANR) from Hold to Buy with a $15 price target.
Brean Murray Carret comments, "In our opinion, the fundamentals and outlook of the company and the met coal market did not materially change over recent weeks. What did change is the stock price, so that we now believe there is more upside to owning the shares."
ANR closed at $10.89 on Friday.