By: Benzinga
UPDATE: Bank of America Merrill Lynch Reiterates Underperform Rating, Lowers PT on Peabody Energy Corporation
In a report published Friday, Bank of America Merrill Lynch reiterated its Underperform rating on Peabody Energy Corporation (NYSE: BTU ), but lowered its price target from $22.00 to $20.00. BofA Merrill Lynch noted, “Our 2013E EPS falls sharply to reflect guidance of higher-than-expected costs at its Australian coal ops
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