Analysts Saying Arch (and maybe coal sector too) Has Bottomed

We have seen that a small form called Global Hunter Securities has lifted its rating to Buy from Neutral after the report.  Another analyst upgrade came from Stern Agee, which also took a Neutral rating up to a Buy rating with a $15 price target objective.  Meanwhile, Jefferies has maintained its Buy rating but it did lower its price target to $12 from $18

Arch Coal shares are down from prior highs even if they are up on the day. The gain of 0.4% at $6.83 compares to a high of $7.20 this morning and compares to a 52-week range of $5.16 to $26.50.

The Market Vectors Coal ETF (NYSEMKT: KOL) is down 0.4% at $23.15 on the day so far.  Maybe coal’s demise has gone far enough even if some of the share price gains may have to drift a bit lower as bottom-fishers take some short-term profits.

JON C. OGG