Goldman Sachs is out with its report today on Peabody Energy BTU, reiterating Buy.
In a note to clients, Goldman Sachs writes, "Peabody announced two agreements to develop surface coal mines in China: (1) A partnership with Yankuang Group to produce 20 mn MT/year of coal for a 2,000 MW supercritical plant. Yankuang will lead the development of the mine and power plant; (2) A partnership with China Huaneng Group (largest Chinese generator) and Calera Corp (carbon capture technology). While these deals are still probably anywhere from 2-5 years from contributing to Peabody's earnings, we still view the announcements positively as they improve long-term growth visibility and demonstrate Peabody's superior pipeline of organic growth/capital reinvestment options relative to domestic coal peers."
GS maintains its $77 PT on BTU.
BTU is trading at $59.26, down 0.08% from yesterday's close.
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