Coal mining company Peabody Energy Corporation (
) caught a big upgrade on Wednesday from analysts at Deutsche
The firm raised its rating on BTU to "Buy," citing the stock's
relatively low valuation. Deutsche Bank also noted that the U.S.
coal market is improving.
Peabody Energy shares rose 57 cents, or +1.5%, in premarket
trading Wednesday following the upgrade.
The Bottom Line
We had removed shares of BTU from our recommended list on Apr.19,
when the stock was trading at $46.02. The company has a .71%
dividend yield, based on last night's closing stock price of
$39.33. The stock has technical support in the $35 price area. If
the shares can firm up, we see overhead resistance around the
$43-$45 price levels. We would remain on the sidelines for now.
Peabody Energy Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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