UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Arch Coal on Soft 4Q EPS

In a report published Wednesday, Deutsche Bank reiterated its Buy rating on Arch Coal

, but lowered its price target from $9.00 to $7.50. Deutsche Bank noted, “4Q soft; outlook weaker; PT lowered to $7.5. ACI reported 4Q adjusted EPS of $0.20 loss, vs. DBe and Factset consensus of $0.13 loss and $0.15 loss, respectively. Following these results, we've lowered estimates to reflect latest contract positions, updated operating & other costs and a current view on coal demand, and also, we lowered our PT to $7.50 (from $9) to account for these changes and higher debts. Lastly, we maintain a Buy given PT upside and leverage to a coal recovery.” Arch Coal closed on Tuesday at $6.04.