Very Bullish on Peabody - Morgan Stanley

Morgan Stanley is out with a positive call on Peabody (BTU),
raising their target significantly from $54 to $80. According to the firm, Peabody is increasingly a play on execution of a growth story in
Australia. BTU has underperformed peers, largely due to disappointing
results in its Australian segment. Morgan Stanley thinks results will improve as
coal chain expansions should allow Peabody to grow production, ease
cost pressures, and improve its mix of high-margin metallurgical coal.<!--more-->