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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (41980)	8/24/2009 6:34:39 PM
From: LoneClone	Read Replies (1) \| Respond to of 193231

Analysts like Arch Coal's Wyo. mine acquisition Monday August 24, 11:23 am ET Analysts upgrade Arch Coal targets after FTC clears Wyoming mine purchase from Rio Tinto ca.us.biz.yahoo.com DENVER (AP) -- Arch Coal Inc.'s shares rose Monday after two analysts upgraded price targets in the wake of the Federal Trade Commission's approval of the coal producer's $761 million acquisition of a Wyoming mine. Arch Coal's stock price rose 72 cents, or 4.1 percent, to $18.22 in morning trading. JPMorgan analyst John Bridges raised his rating to "Overweight" from "Neutral" and his share price forecast to $22 from $19. "We believe financing risk and uncertainty related to FTC approval of the purchase contributed to Arch's underperformance," he wrote in a research note. In a separate note published Monday, UBS analyst Shneur Z. Gershuni retained his neutral rating for the St. Louis, Mo.-based company and raised his per-share price target to $19 from $18. He also raised his earnings estimates to 27 cents a share from 25 cents a share in 2009, to $1.23 a share from $1.11 a share in 2010 and to $1.72 from $1.84 in 2011. Arch Coal announced last week the Federal Trade Commission cleared its acquisition of Jacobs Ranch coal mine. It expects the transaction to close within the next six weeks.