Goldman Sachs Downgrades Peabody Energy (BTU) to Neutral, Risk/Reward Now Balanced
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Price: $20.94 --0%
Rating Summary:
9 Buy, 6 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 15 | New: 29
Rating Summary:
9 Buy, 6 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 15 | New: 29
Trade BTU Now!
Goldman Sachs downgraded Peabody Energy (NYSE: BTU) from Buy to Neutral with a price target of $28.00 (from $26.00).
"We continue to view BTU favorably given its leverage to our view thermal coal prices/demand will improve in 2013 via low cost positions in the PRB and Illinois Basins, leading exposure to Asia demand growth via its Australia business and strong balance sheet," the analyst notes. "However, risk/reward for shares appears more balanced after BTU has rallied with other US coal stocks as signs China steel production is picking up and domestic thermal coal inventories are slowly falling have driven investors that have been on the sidelines to increase exposure to US coal stock."
For an analyst ratings summary and ratings history on Peabody Energy click here. For more ratings news on Peabody Energy click here.
Shares of Peabody Energy closed at $28.95 yesterday, with a 52 week range of $18.78-$47.81.
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"We continue to view BTU favorably given its leverage to our view thermal coal prices/demand will improve in 2013 via low cost positions in the PRB and Illinois Basins, leading exposure to Asia demand growth via its Australia business and strong balance sheet," the analyst notes. "However, risk/reward for shares appears more balanced after BTU has rallied with other US coal stocks as signs China steel production is picking up and domestic thermal coal inventories are slowly falling have driven investors that have been on the sidelines to increase exposure to US coal stock."
For an analyst ratings summary and ratings history on Peabody Energy click here. For more ratings news on Peabody Energy click here.
Shares of Peabody Energy closed at $28.95 yesterday, with a 52 week range of $18.78-$47.81.
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