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Fly News Breaks for July 22, 2015
Jul 22, 2015 | 06:23 EDT
JPMorgan analyst John Bridges downgraded Peabody (BTU) to Neutral citing a lack of near-term catalysts for shares given its cautious view for the coal sector. Bridges notes, however, that Peabody still has better financials than coal peers Alpha Natural (ANR) and Arch Coal (ACI) and that shares may be vulnerable to squeezes with 36% of the equity now sold short. Alliance Resource Partners (ARLP) and Foresight Energy (FELP) are now the analyst's only Overweight rated names in the coal space.
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