Commodities - The Coming Bull Market Message Board

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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (537)	7/14/2001 1:09:22 PM
From: craig crawford	Read Replies (1) of 1643

Friday July 13, 12:00 pm Eastern Time RPT-RESEARCH ALERT-JP Morgan starts Peabody as a buy biz.yahoo.com NEW YORK, July 13 (Reuters) - J.P. Morgan said Friday it was starting coverage of the world's largest coal company Peabody Energy Corp. (NYSE:BTU - news) with a buy rating and price target of $40 on strong fundamentals. Peabody became publicly traded in May after an initial public offering sold 15 million shares at $28 each, raising a higher-than-expected $420 million. The stock closed Thursday at $27.82. ``Coal supplies, particularly in the East, remain very tight, supporting higher spot prices, which will likely continue given limited flexibility for producers to increase production quickly, said John Bridges in a research note. Bridges also cites a positive shift in national energy policy toward coal-fired plants as well as low inventories at utilities. ........................................................................................................................ Wednesday July 11, 12:00 pm Eastern Time RESEARCH ALERT-Arch Coal started outperform biz.yahoo.com NEW YORK, July 11 (Reuters) - Salomon Smith Barney on Wednesday said analyst David LaBonte started coverage of Arch Coal Inc. (NYSE:ACI - news) with an outperform rating and a 12-month price target of $30. He cited strong industry fundamentals and the company's ability to take advantage of rising coal prices. LaBonte said in a statement he expects earnings to rise from 60 cents a share in 2001 to $2.45 in 2002 and $2.80 in 2003. St. Louis-based Arch lost 33 cents a share in 2000 ``We believe there may be upside to our earnings estimates due to a combination of organic and acquisition growth opportunities,'' LaBonte said. Arch shares were off 40 cents at $23.80 in morning New York Stock Exchange trade

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