UPDATE: Goldman Sachs Lowers PT on Peabody Energy to $67

Goldman Sachs is out with its report today on Peabody Energy (NYSE: BTU), lowering its PT from $70 to $67.

In its report, Goldman Sachs writes, "BTU trades at 4.8X two-year rolling forward EV/EBITDA vs. 4.3X/6.4X for ACI/CNX. We lower our six-month, multiples-based price target to $67 from $70, less than our 8% 2011E EBITDA cut, as we believe long-term earnings are intact with no changes to 2012E/2013E EBITDA (our primary valuation metrics)."

Goldman Sachs reiterates Buy on BTU.

At the time of posting, shares of BTU were trading at $44.92, down 5.71% from Thursday's close.