UPDATE: Citigroup Lowers PT on Alliance Holdings from $55 to $53

Citigroup reiterated a Buy rating on Alliance Holdings

and lowered its priced target from $55 to $53. Citigroup noted, “We estimate 2Q operating EPU of $0.86 vs consensus of $0.79. Based on our ARLP earnings adjustments on our new commodity forecasts, we are lowering our AHGP EPU to $3.54/sh for 2012, $3.75/sh for 2013, and $3.85 for 2014 with a new target price of $53/sh.” Alliance Holdings closed at $44.36 on Friday.