BUZZ-Arch Resources slips after collapse of Baltimore bridge

Reuters03-27

** Shares of coal producer Arch Resources down 3% at $158.18 after the collapse of a bridge and stoppage of ship traffic at the Port of Baltimore

** Jefferies cuts PT to $185 from $190; new PT implies an upside of 13.4% compared to stock's last close

** Jefferies reduces Arch met coal shipment assumption by 100 thousand tons for Q1 and 200 thousand tons for Q2

** "We have also increased our unit cost assumptions as a result of the lower volumes" - brokerage

** "This tragedy is a supply shock to the seaborne met coal market, as it likely removes about 2% of supply from the market for at least the next 3-4 weeks," Jefferies adds

** Including the session's losses, stock is down 3.7% YTD

(Reporting by Sourasis Bose in Bengaluru)

((Sourasis.bose@thomsonreuters.com))

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