Morgan Stanley offers its favorite utility and coal stocks to play current dynamics in the coal...
Thursday, November 29, 2012, 12:47 PM ETMorgan Stanley offers its favorite utility and coal stocks to play current dynamics in the coal and natural gas market. Among utilities, Calpine's (CPN) efficient nat gas-fired plants enjoy a large arbitrage against inefficient plans, and Exelon's (EXC) big nuclear fleet benefits from higher nat gas prices. The firm prefers exposure to met coal over thermal coal; its top pick is Walter Energy (WLT).
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