Canaccord starts Arq with Buy on activated carbon market growth

Canaccord initiated coverage of Arq (ARQ) with a Buy rating and $10 price target The firm expects strong growth in the North American activated carbon market over the next several years and says Arq uses coal to clean. The company will not only benefit from overall activated carbon growth, but also from converting its operations from powdered activated carbon to higher selling price, higher margin granular activated carbon, the analyst tells investors in a research note.