Market Overview

UPDATE: Citigroup Reiterates Buy Rating, Lowers PT on Peabody Energy Corporation

Related BTU
Coal ETF Pursues New Uptrend
Natural Resource Partners Beats Earnings on Diverse Business
Energy Stocks Move Higher as Oil Spikes (Fox Business)

In a report published Monday, Citigroup reiterated its Buy rating on Peabody Energy Corporation (NYSE: BTU), but slightly lowered its price target from $33.00 to $32.00.

Citigroup noted, “BTU released their initial guidance for 2013, which sits well below our prior estimates because of greater cash cost escalation and a significant DD&A step-up, both in Australia. After incorporating guidance and recent 1Q13 metallurgical coal settlements, we are lowering our EPS estimate for 2013 to $0.75 from $1.90 and our 2014 estimate to $1.86 from $2.50. We are revising our target price to $32 and our 2013 EBITDA estimate declines to $1.4 bln from $1.7 bln.”

Peabody Energy Corporation closed on Friday at $27.68.

Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (BTU)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional