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Fly News Breaks for October 6, 2015
BTU
Oct 6, 2015 | 09:00 EDT
Morgan Stanley analyst Stephen Byrd downgraded Peabody to Equal Weight and lowered its price target on shares to $5. Byrd lowered long-term natural gas price forecasts, which drives down price targets for E&P and coal stocks. The analyst sees increased risk for Peabody as the company needs an uptick in coal pricing to remain or return to free cash flow positive.
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