UPDATE: Macquarie Upgrades Peabody Energy as Reduced Natural Gas Volatility Brings PRB Pricing Power

In a report published Tuesday, Macquarie Capital analyst Luke McFarlane upgraded the rating on Peabody Energy Corporation (NYSE: BTU ) from Neutral to Outperform, and raised the price target from $20.00 to $24.00. In the report, Macquarie Capital noted, “We upgrade BTU to O/P from N and increase our TP