B. Riley Securities Maintains Buy Rating for Arch Resources: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
B. Riley Securities has maintained its Buy rating on Arch Resources (NYSE:ARCH) but lowered its price target from $221.00 to $198.00. Currently, ARCH shares are trading at $175.02, down 0.78% over the last 24 hours. A move to the new target price would represent a 13.13% increase. Arch Resources is a key player in the metallurgical and coking coal market, primarily serving power plants, steel mills, and industrial facilities, with significant revenue generated from Asia.
March 12, 2024 | 5:00 pm
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B. Riley Securities maintains Buy rating on ARCH but lowers price target from $221 to $198. Shares currently at $175.02, indicating a potential 13.13% upside.
The maintenance of a Buy rating by B. Riley Securities suggests a positive outlook on ARCH's future performance despite the reduction in price target. The new target still implies a significant upside from the current trading price, indicating potential growth. However, the reduction in the target price might reflect adjustments in market conditions or company valuation, which investors should consider.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100