Jefferies & Company has published a research report on Peabody Energy BTU as the company appears to be well-positioned to benefit from strong Chinese and Indian demands for thermal and metallurgical coals.
In the report, Jefferies writes "Peabody delivered strong fourth quarter results, despite the heavy rains and other supply disruptions in Australia, driven by strong metallurgical shipments (2.9 million tons), pricing from its Australian operations, better than expected overall cost controls, and expanding US margins. Peabody put forth reasonable pricing expectations for its uncommitted coals and support for growth in seaborne coal shipments, which will include increased US exports of met and thermal coals. Global pricing should allow company to recover from Q1 weather and related issues. We would add to or introduce positions."
Jefferies maintains its Buy rating and $80 price target.
Peabody Energy closed yesterday at $60.50.
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Posted In: Analyst ColorAnalyst RatingsCoal & Consumable FuelsEnergyJefferies & CompanyPeabody Energy
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