Peabody Energy price target raised to $39 from $37 at B. Riley

B. Riley analyst Lucas Pipes raised the firm’s price target on Peabody Energy to $39 from $37 and keeps a Buy rating on the shares after updating his met coal price deck. Pipes’ preference remains for equities with "strong" capital return policies with "conservative" balance sheets to maintain long-term flexibility and optionality. The two companies in the space that fit this description the closest are Arch Resources and Alpha Metallurgical Resources, with Peabody Energy joining their ranks later this quarter, Pipes tells investors.