BTU Upgraded On Execution and Valuation

Davenport upgraded Peabody Energy (NYSE: BTU) from “neutral” to “buy.” The target price for BTU is set to $55.

Davenport said management execution at BTU has improved. The company is also producing additional met coal and its valuation is attractive at present. BTU has gained 2.03% so far in the year.

BTU’s shares have dropped by 1.08% to $45.63 since morning.