Jefferies Maintains Buy on Peabody Energy (BTU)

Jefferies is out with its report today on Peabody Energy (NYSE: BTU), maintaining Buy.

In a note to clients, Jefferies writes, "Peabody's adjusted 2011 outlook may prove to be conservative while recognizing uncertainties that surround large mine production outages and supportive product economics. Global coal markets continue to suggest healthy pricing and volume trends well through this decade, with no US-based company better positioned to benefit from such trends as Peabody. We would add to positions."

Jefferies maintains an $85 PT on BTU.

At the time of posting, shares of BTU were trading pre-market at $64.60, up 1.46% from Tuesday's close.