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1143 ET 12June2009-Goldman upgrade lifts Alpha Natural
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Alpha Natural Resources Inc (ANR.N) and Foundation Coal Holdings Inc
FCL.N rose on Friday after Goldman Sachs upgraded Alpha Natural and boosted
its price target on Foundation Coal, citing benefits from the pending
combination of the two companies.
The firm boosted Alpha Natural to "conviction list buy" from "neutral" and
raised its target on Foundation Coal by $8 to $41 on the belief that Alpha's
proposed purchase enhances the competitive positioning of both companies in the
medium-to-long term.
Alpha Natural shares gained 2.5 percent to $29.46 while Foundation Coal
added 1.4 percent to $31.15.
