Arch Resources Unlikely To Reach 10M Watermark Before 2025 - Analyst
Portfolio Pulse from Nabaparna Bhattacharya
B. Riley Securities analyst Lucas N. Pipes has reiterated the Buy rating on Arch Resources, Inc. (NYSE:ARCH), but lowered the price target to $188 from $197. The analyst noted that Arch Resources has lowered its coking coal sales volume guidance and increased cost guidance for the full year, indicating a less optimistic outlook. The company is unlikely to achieve the 10 million watermark before 2025, leading to a reduction in the price target.
October 03, 2023 | 8:35 pm
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Arch Resources' lowered coking coal sales volume guidance and increased cost guidance for the full year indicate a less optimistic outlook. The company is unlikely to achieve the 10 million watermark before 2025.
The analyst's lowered price target for Arch Resources is based on the company's less optimistic outlook, including lowered coking coal sales volume guidance and increased cost guidance. This could negatively impact the company's stock price in the short term.
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