Cramer Suggests 45% Upside for Peabody (BTU) on Increased Coal Demand in Japan
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Jim Cramer, host of CNBC's Mad Money, suggested with the help of Wall Street technician Dan Fitzpatrick, that one beneficiary of the energy crisis in Japan may be Peabody Energy Corp. (NYSE: BTU).
The company's coal could be seen as an alternative energy source for Japan in the wake of an earthquake that has spawned the worst nuclear incident since Chernobyl.
Fitzpatrick sees a big move for Peabody to the mid-90s. Currently the stock is up 3 percent in early market movement on Wednesday to $67.16.
The technician said that Peabody is currently in a resting phase and that it could easily rally another $36, despite declining in four consecutive sessions last week.
The company's coal could be seen as an alternative energy source for Japan in the wake of an earthquake that has spawned the worst nuclear incident since Chernobyl.
Fitzpatrick sees a big move for Peabody to the mid-90s. Currently the stock is up 3 percent in early market movement on Wednesday to $67.16.
The technician said that Peabody is currently in a resting phase and that it could easily rally another $36, despite declining in four consecutive sessions last week.
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