UPDATE: Global Hunter Securities Upgrades Arch Coal to Buy on Favorable Q2

Global Hunter Securities raised its rating on Arch Coal

from Neutral to Buy with an $18 price target. Global Hunter Securities commented, "Arch Coal's 2Q loss was less than expected. The company made important progress in three areas: it improved operational efficiency, optimized its asset portfolio and enhanced its financial flexibility. Despite operating at a lower rate, the company was able to reduce per ton costs in several regions by reducing high-cost thermal output, reducing headcount, controlling consumable costs and rightsizing operations." Arch Coal closed at $6.80 on Friday.