Shares of Peabody Energy Corp (BTU) surged 5.06% in Friday's intraday trading session, following a bullish analyst report from Benchmark Co. The coal mining company's stock received a significant boost after Benchmark maintained its Buy rating and substantially increased its price target.

Benchmark Co. analyst Nathan Martin reaffirmed his Buy rating on Peabody Energy, demonstrating continued confidence in the company's prospects. More notably, Martin raised the price target for BTU from $23 to $32, representing a substantial 39% increase. This new target suggests a considerable upside potential from the stock's current trading levels.

The upgraded price target and maintained Buy rating reflect Benchmark's optimistic outlook on Peabody Energy's future performance. Investors appear to be responding positively to this vote of confidence, as evidenced by the stock's strong intraday rally. As the coal industry continues to navigate changing energy landscapes, Peabody Energy's ability to attract such bullish sentiment from analysts could signal resilience and potential growth opportunities in the sector.