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Fly News Breaks for April 10, 2019
Apr 10, 2019 | 09:08 EDT
MKM Partners analyst Daniel Scott lowered his price target on Peabody Energy to $40 going into its Q1 earnings, saying that while the coking coal side of its business looks "strong", the "seaborne thermal prices have fallen dramatically." The analyst also notes that while the management is bridging the production gap amid recovery efforts at North Goonyella with Shoal Creek, his model calls for a lowering of estimates and price target. At current valuation however, Scott believes that Peabody Enegy still has "meaningful upside" and keeps his Buy rating on the stock.
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