BMC Reiterates Buy and PT of $43 on Arch Coal

BMC reiterated its Buy rating on Arch Coal ACI. At the same time, BMC left its price target on the company's stock unchanged at $43 after Arch Coal announced it had commenced an offering of 50.6 million shares. On Tuesday, Arch Capital added 0.89% to its value to close the day at $29.89. Its shares lost all of Tuesday's gains in today's pre-market trading, however, falling 1.87% to $29.33.