- Peabody Energy (BTU +4.6%) is upgraded to In-line from Underperform with a $6.50 price target, raised from $6, at Imperial Capital, seeing BTU's free cash flow profile to equity improving over time as hedges roll off.
- The firm remains concerned about the impact of a dividend cut, coal headlines, and $3 natural gas in the U.S., but also says it is aware of a number of bullish factors for nat gas in H2 2015, including export demands that could improve.
Peabody Energy upgraded at Imperial as free cash flow outlook improves
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