This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Analyst Upgrades Alpha Natural Rating On Purchase

DENVER (AP) ¿ Shares of Alpha Natural Resources Inc. rose Friday after an analyst upgraded his rating on the coal producer because of its plan to purchase Foundation Coal Holdings Inc. for $1.4 billion in stock.

In a research note, Goldman Sachs analyst Brian Singer also raised a target price for both Arch Natural and Foundation Coal and maintained Foundation's "Buy" rating.

The acquisition, if completed, would give Alpha Natural more diversified assets, improve growth opportunities and be accretive to cash-on-cash returns of both companies, Singer said.

He rated Alpha Natural a "CL-Buy," up from "Neutral," and raised his six-month multiples-based target price to $38 a share from $32 a share.

Singer revised his earnings per share estimates for Alpha to 57 cents from 60 cents in the second quarter of 2009; 76 cents from 75 cents in the third quarter and 72 cents from 70 cents in the fourth quarter. For the full year, he estimated earnings per share of $2.71 which is unchanged.

Foundation's six-month multiples-based target price was raised to $41 from $33 to reflect additional earnings based on its recent settlement of a contract dispute, Singer said.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ANR $0.04 3.17%
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs