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Peabody Energy Upgraded by Goldman

 (Image source: peabodyenergy.com)

Peabody Energy Corporation (NYSE:BTU), the world’s largest private sector coal company was upgraded by Goldman Sachs from neutral to buy. The price target was also raised from $21 to $26 a share. Goldman’s upgrade was based on Peabody’s coal mining operation growth in Australia, improving cash flows, stabilization of met coal prices, which were in freefall. In the opening, Peabody is trading above 2 percent.