Arch Resources $ARCH stock formed a downtrend channel breakout and has gone above its 200 day moving average as of January 22, 2023. The stock is in a technical weak uptrend.
Arch Resources price target lowered at B Riley
Lucas Pipes, an analyst at B Riley, maintained a Buy rating on the shares of Arch Resources while lowering the firm’s price target for the company to $207 from $221 on January 17, 2023. For long-term flexibility and optionality, Lucas continues to favor stocks with strong capital return policies and conservative balance sheets. According to Pipes, Arch Resources and Alpha Metallurgical Resources are the two businesses in the sector that most closely match this description, with Peabody Energy expected to join them later this quarter.