Morgan Stanley likes thermal guys, likes low-cost regions, likes 5 dollars natural gas

摘要

Morgan Stanley's message to investors: There is "favorable risk-reward in low-cost U.S. thermal coal miners." Morgan Stanley's analysts make the case in a June 23 research report. That's in part because natural gas prices have hovered around five bucks, a price level that, if sustainable, could lead to an incremental 20-30 million tons of annualized coal demand from plants that had switched to gas, according to the company's analysis.