Loading...
Loading...
Dahlman Rose reiterated its Buy rating on Alliance Resource Partners
ARLP but lowered its price target from $74 to $72.
Dahlman Rose noted, "While the company raised its quarterly distribution by 2% sequentially and 13% y/y, operating results were mixed versus our estimates. Sales of 8.9MM were a quarterly record, but below our total estimate of 9.35MM. This is primarily due to lower-than-expected sales from the Illinois Basin and Northern Appalachia. Average per unit revenue of $56/t missed our estimate of $57.2/t, while average unit costs were better at $38.48/t vs our estimate of $39.48/t."
Alliance Resource Partners closed at $64.94 on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in