Goldman Slightly Raises Price Target On Alpha Natural (ANR)

Goldman Sachs is raising the price target on the coal names, particularly Alpha Natural Resources, Inc.

, which it raised from $52 to $53. It has a Neutral rating on shares. In the note to clients, Goldman writes, "We continue to like ANR's met and NAPP thermal coal assets, but believe a Neutral rating is appropriate, given the stock is already discounting $200/MT, limiting further upside vs. expectations. ANR lacks the company specific catalysts of Buy-rated BTU and CNX. And Street expectations that ANR could do a poor acquisition remains a potential overhang for shares. We see 13% upside to a $53, six-month, multiples-based target price." Shares of ANR lost 10 cents on Friday to close at $46.67, a loss of 0.2%.