UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Arch Coal

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

, and slightly raised its price target from $8.00 to $9.00. Deutsche Bank noted, “3Q ok; +ve cost outlook; maintain Buy & up PT. ACI reported 3Q adj EPS loss of $0.05, vs. DBe and Street cons. of $0.14 loss and $0.17 loss, respectively. This adj EPS excluded the reversal of a legal contingency (25c). Following these results, our estimates are increased. Also, our PT goes to $9 and we maintain Buy on upside to PT & coal price leverage.” Arch Coal closed on Friday at $8.09.