BMO Capital lowered the firm’s price target on Peabody (BTU) to $40 from $44 and keeps an Outperform rating on the shares as part of a broader research note previewing Q1 results in Metals and Mining. Earnings for most companies under coverage are expected to increase in Q1, supported by higher underlying commodity prices, the analyst tells investors in a research note. The firm added however that its reduced price target reflects the company announcement that met coal sales from the Centurion mine will be lower than previously expected due to greater-than-anticipated mine commissioning challenges.
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Read More on BTU:
- Peabody price target lowered to $42 from $43 at B. Riley
- Peabody price target lowered to $35.50 from $36.50 at UBS
- Peabody Energy: Centurion Setback Creates Near-Term Pressure but Supports Undervalued Long-Term Upside
- Peabody sees Centurion Mine sales volume below prior expectations for Q1
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