0254 GMT [Dow Jones] Credit Suisse lifts its target price on MacArthur Coal (MCC.AU) to A$15.50/share from A$14, in line with the indicative bid from Peabody (BTU) and ArcelorMittal (MT). It estimates the bid values MacArthur at A$25.3 a metric ton of attributable reserves, which compares with other favored coal stocks it covers, and is at a 40% premium to its A$11/share valuation. It recommends the stock at Outperform. MacArthur is trading up 37% at A$15.17. ([email protected])
MCC Price at posting:
$15.16 Sentiment: Buy Disclosure: Held
