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UPDATE: Dahlman Rose Lowers PT to $71 on Alliance Resource Partners on Mixed Q3 Results

Related ARLP
Earnings Scheduled For October 29, 2018
Benzinga's Top Upgrades, Downgrades For May 23, 2018

Dahlman Rose reiterated its Buy rating on Alliance Resource Partners (NASDAQ: ARLP) but lowered its price target from $74 to $72.

Dahlman Rose noted, "While the company raised its quarterly distribution by 2% sequentially and 13% y/y, operating results were mixed versus our estimates. Sales of 8.9MM were a quarterly record, but below our total estimate of 9.35MM. This is primarily due to lower-than-expected sales from the Illinois Basin and Northern Appalachia. Average per unit revenue of $56/t missed our estimate of $57.2/t, while average unit costs were better at $38.48/t vs our estimate of $39.48/t."

Alliance Resource Partners closed at $64.94 on Friday.

Latest Ratings for ARLP

May 2018MKM PartnersUpgradesNeutralBuy
Nov 2017Stifel NicolausMaintainsHold
Dec 2016MKM PartnersInitiates Coverage OnNeutral

View More Analyst Ratings for ARLP
View the Latest Analyst Ratings

Posted-In: Dahlman RoseAnalyst Color Price Target Intraday Update Analyst Ratings


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