Citigroup Downgrades Arch Resources to Neutral, Lowers Price Target to $170
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Alexander Hacking downgraded Arch Resources (NYSE:ARCH) from Buy to Neutral and reduced the price target from $185 to $170, indicating a more cautious outlook on the stock.

April 18, 2024 | 12:40 pm
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Citigroup downgraded Arch Resources from Buy to Neutral and lowered the price target from $185 to $170, suggesting a tempered expectation for the stock's performance.
The downgrade by Citigroup, a major financial institution, from Buy to Neutral reflects a significant change in the bank's outlook on Arch Resources. This adjustment, coupled with the reduction in price target, is likely to influence investor sentiment negatively in the short term, potentially leading to a decrease in stock price as the market adjusts to the new valuation and expectations.
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