numerious broker upgrades to $4.50 from $2.50

2249 GMT [Dow Jones] STOCK CALL: UBS upgrades Macarthur Coal (MCC.AU) to Buy from
Neutral as settlement of coal prices boosts forecasts for miners. Notes settlement of
hard coking coal at US$129 a metric ton versus UBS forecast of US$85 a ton. Says miners
have demonstrated their pricing power, which results from a highly concentrated market,
proactive supply cutbacks and lack of consumer pricing power. "In our view, it is
difficult to describe the settlement outcome as anything but a significant victory for
mining companies," UBS says. Prices for Macarthur's PCI coal also came in ahead
of expectations; UBS ups target price for Macarthur to A$4.50 from A$2.50, versus last
trade of A$3.78. Boosts earnings forecasts for a range of coal miners. Says Centennial
(CEY.AU) and Macarthur look the cheapest, maintains Neutral ratings for Coal & Allied
(CNA.AU) and Felix (FLX.AU)