dow jones reporting

[Dow Jones] STOCK CALL: Morgan Stanley ups Macarthur Coal (MCC.AU) to Overweight from Equalweight on expectations that restocking in 2010 will boost demand for commodities. Says OECD restocking could add further support in 2010 and that, while China is currently destocking, a restocking cycle from the first quarter of 2010 could drive a strong reaction in both base metals and bulk commodities, like Macarthur's coal. "We also expect to see the beginnings of a cyclical recovery in bulk commodity prices in 2010 as global steel production and power consumption are set to rise further after registering initial gains in 1H09, with hard coking coal and iron ore prices set to register the strongest percentage," MS says. Target price for Macarthur upped to A$10.89 from A$8.00. MCC trading down 0.8% at A$9.64. (APW)