UPDATE: Brean Murray Carret Downgrades Arch Coal

According to a research report published today, Brean Murray Carret has downgraded Arch Coal Inc. (NYSE: ACI) from Buy to Hold, as the company is currently in a difficult position to sell its open thermal coal volumes in 2012.

Brean Murray Carret commented in the report, “We continue to have a positive view of Arch Coal's low cost operations, its diversification among all major U.S. supply basins, and its met coal growth plans of 15 million tons by 2012, but with near-term earnings under pressure, we believe that some of Arch Coal's peers are now better positioned to weather the current weakness in domestic thermal coal demand. As such, we recommend investors to hold Arch Coal at current levels.”

Arch Coal closed Friday at $14.39.