NEW YORK (
) -- Coal company
has fallen sharply after an analyst downgraded its recommendation on the company.
Peabody tumbled by 4.4% to $48.60 Monday afternoon after
cut its recommendation on the stock to market perform from market outperform because the firm foresees more upside in other related stocks, according to the
Wall Street Journal
has also fallen, down 0.8% to $20.30, after
Dahlman Rose & Co
upgraded Patriot to "hold" from "sell," on the basis of an improvement in U.S. metallurgical coal fundamentals, driven by robust demand in Asia, and domestic steel capacity utilization, says
, on the other hand, has added 1.8% at $27.30 after
upgraded it to overweight from underweight, explaining that thermal coal inventory at power generators could fall faster than expected, according to
At the same time Howard Weil has raised Arch to market outperform from market perform.
-- Reported by Andrea Tse in New York
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