Peabody Energy price target raised to $32 from $30 at Jefferies

Jefferies raised the firm’s price target on Peabody Energy to $32 from $30 and keeps a Buy rating on the shares. Met coal quality differentials will become increasingly important as blast furnace steel producers take steps to decarbonize and the outlook for premium low-vol benchmark met coal “may be the best of any commodity,” the analyst tells investors as the firm raises its long-term benchmark met coal price forecast from $200/t to “a still conservative” $225/t.