Fly News Breaks for October 30, 2019
Oct 30, 2019 | 06:46 EDT
BMO Capital analyst David Gagliano lowered his price target on Peabody Energy to $14 and kept his Market Perform after its Q3 earnings miss. The analyst believes that operating challenges at the company's Australian platform are expected to continue while the contributions from its U.S. based sites are set to "tail off" from the latest quarter. Gagliano adds that Peabody's product mix remained weighted more toward thermal rather than metallurgical coal, and he also lowers his FY19 and FY20 EPS view by $1.13 and $1.81 to (89c) and (13c) respectively.
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