Why Peabody Energy Was a Hot Stock This Week
Over the course of the past few trading days, coal mining company Peabody Energy's (NYSE: BTU) stock has been the subject of not one, but two analyst price target raises. As a result, week to date as of late Thursday its share price was up by almost 6%, according to data compiled by S&P Global Market Intelligence.
The more hefty of the two raises came from Lucas Pipes of B. Riley, who cranked his Peabody fair value estimation nearly 30% higher to $32 per share (previously, it was $25). His peer Christopher LeFemina of Jefferies was more cautious, adding only $2 to his level for a new figure of $27. Both prognosticators maintained their buy recommendations on the energy stock.
Pipes' enhanced price target derives from an increase in his earnings estimate for Peabody's latest (third) quarter.
Source Fool.com
