BMO Capital Markets Maintains Alpha Natural Resources Outperform, $35 PT

BMO Capital Markets maintained its Alpha Natural Resources AMR Outperform rating and $35 price target in a research report published today. In the report, BMO Capital Markets states, "BMO Research maintains the Outperform rating and $35 target price. Even on revised estimates, Alpha shares trade well below peers on EV/EBITDA and P/NPV. Alpha's plans to curtail production are not surprising. Following Patriot's January 13 announcements to close mines, similar cuts from Alpha and/or Arch were widely expected." Shares of Alpha Natural Resources were trading at $23.56 at the time of posting, up 3.42% from Friday's market close.