The investment thesis on Peabody Energy (BTU)
continues to be that it's the best house on a pretty scary street - a
street that increasingly looking like Elm Street for long-suffering
investors. If there's good news in the company's second quarter results,
it's that the Street seems to still be washing out expectations despite
some signs of improvement in the U.S. coal business. While this remains
an interesting asset-driven company for the long term, the coal sector
has shown in spades that the answer to the question of how much worse
things can get is "a lot worse".
Please continue here:
Peabody Energy Still In Limbo; How Low Can It Go?
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