0850 [Dow Jones] STOCK CALL: UBS downgrades Macarthur Coal...

0850 [Dow Jones] STOCK CALL: UBS downgrades Macarthur Coal (MCC.AU) to Neutral from Buy pointing to recent share price gains, although boosts its target to A$12.00 from A$10.20. Boosts FY10 net profit forecast by 2% to A$87 million, but cuts FY11 forecast by 21% to A$160 million to reflect delayed start-up of Middlemount. Still, reckons that MCC will continue to trade at a premium, as equity market seeks exposure to tight coking coal market. "MCC is the purest coking coal play in Australia," analyst says. MCC last at A$11.38. (LMF)