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September 08, 2008


Goldman raises US coal sector to neutral

Reuters reported that Goldman Sachs has raised its rating on the US coal sector to "neutral" from "cautious" and upgraded two companies to "buy," citing in part a strong steel market which uses coal.

Goldman in a note said that "Given that valuation has retracted, we feel that now is a good time to take profits on our cautious coverage view and upgrade to neutral.”

Goldman raised Alpha Natural Resources Inc and Consol Energy Inc to buy and Arch Coal Inc, International Coal Group Inc and Massey Energy Co to neutral.