Goldman (NYSE:GS) Says Alpha Natural Resources (NYSE:ANR) Has Limited Upside

Saying Alpha Natural Resources (NYSE:ANR) has discounted $200/MT, Goldman Sachs (NYSE:GS) sees little upside for the going forward.

The banking giant said, "We continue to like ANR's met and NAPP thermal coal assets, but believe a Neutral rating is appropriate, given the stock is already discounting $200/MT, limiting further upside vs. expectations."

Goldman downgraded Alpha Natural Resource from "Buy" to "Neutral."

Alpha ended Monday's trading session at $45.87, falling $0.80, or 1.71 percent. Goldman raised their price target from $52 to $53.