Societe Generale Initiates Peabody Energy Coverage

Societe Generale intiated Peabody Energy

coverage with a Hold rating and $60 price target in a research report published today. In the report, Societe Generale states, "Peabody is the largest US-based coal miner, with operations mainly in the Western US Powder River Basin and Australia. The company produces thermal coal for electrical generation in the US and thermal and metallurgical coal in Australia. We believe, however, that outside these regions, the company is focusing on Mongolia, as the TavanTolgoi deposit could be company transformational. We rate the stock a Hold as we await the outcome of this bid." Shares of Peabody Energy were trading at $59.06 at the time of posting, up 1.97% from Tuesday's market close.