UPDATE: Macquarie Raises PT on Arch Coal as Reduced Natural Gas Volatility Brings PRB Pricing Power

In a report published Tuesday, Macquarie Capital analyst Luke McFarlane reiterated a Neutral rating on Arch Coal (NYSE: ACI ), and raised the price target from $4.50 to $4.90. In the report, Macquarie Capital noted, “We remain Neutral on ACI and increase our TP to $4.90, from $4.50. ACI is