UPDATE: Dahlman Rose & Co. Initiates Coverage on Alliance Resource Partners

According to a research report published this morning, Dahlman Rose & Co. has initiated Alliance Resource Partners (NASDAQ: ARLP) with a Buy rating and $74 PT.

In the report, Dahlman Rose & Co. said, "Alliance is one of the largest thermal coal producers in the Illinois Basin and also has operations in Northern Appalachia and Central Appalachia. The company has a highly contracted book, allowing for a more stable earnings profile relative to other coal names, and also making it a stable issuer of a strong, growing distribution."

Alliance Resource Partners closed Friday at $56.67.