) to equal-weight from overweight on Friday, explaining that the stock's shares have discounted much of their 2006-2007 earnings potential.
Analyst Wayne Atwell notd that Arch Coal's shares are up 84% year to date vs. 68% for its peer group. If the current strong pricing environment persists, Atwell thinks the upside might be available as investors look at the company's 2008 fundamentals. Atwell feels that the company's fundamental business performance outlook remains positive. He sees 97 cent 2005 earnings per share, $3.90 2006 earnings per share, and $4.74 2007 earnings per share.