Deutsche Bank Raises Estimates On Peabody Energy (BTU)

Deutsche Bank raised the estimates on Peabody Energy Corporation BTU after the company reported earnings. It has a Hold rating and a $65 price target. In a note to clients, Deutsche Bank writes, "The main positives in the quarter as compared to our forecasts were lower cash-operating costs and lower corporate expenses (SG&A, etc). The company's 3Q realized average sales per ton was $29.1; 3% below DBe. Meanwhile, cash cost per ton of coal sold was $20.4; 5% below DBe. Sequentially, costs were stable in the U.S. and decreased in Australia due to a higher ratio of thermal volumes and FX gains." Shares of BTU lost 61 cents on Friday to close at $51.04, a loss of 1.2%.