UPDATE: Bank of America Merrill Lynch Reiterates Underperform Rating, Lowers PT on Peabody Energy Corporation
Posted on December 14, 2012 at 15:27 PM EST
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