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Dahlman Rose lowered their price target on Arch Coal (ACI) yesterday to $8/share from their previous price target of $9/share due to the company's latest earnings and recent events. The firm did reiterate their 'Buy' rating as they believe Arch's contracts which are in place for 2013 and 2014 are adequate and the firm has plenty of liquidity as they wait for a rebound in the coal market. Dahlman Rose also sees increasing metallurgical coal sales which they believe will help with Arch's CAPP mix. The shares finished the day at $6.10/share after shares rose just about 1%.