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Fly News Breaks for September 6, 2019
BTU
Sep 6, 2019 | 07:29 EDT
BMO Capital analyst David Gagliano lowered his price target on Peabody Energy to $22 and kept his Market Perform rating, saying that it has forecasted Q3 results to be "materially lower" relative to Q2 as part of its debt refinancing press release yesterday. The analyst notes that the combination of operating challenges and weak expert thermal and metallurgical coal markets are weighing on Peabody Energy's results, adding that there is a risk of an additional downward revision in guidance by the company's management.
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