FBR Analyst Likes Coal in Christmas Stockings (PCX, CNX, CLD, KOL)
Apparently it seems that getting coal in your Christmas stockings is now a good thing. FBR Capital Markets has a research report this morning that is highlighting some select coal names and the impact is enough to influence the sector…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
FBR Capital Markets raised the rating on Patriot Coal Corporation (NYSE: PCX), CONSOL Energy Inc. (NYSE: CNX), and Cloud Peak Energy Inc. (NYSE: CLD). All were raised to Outperform, but the standout call is how much some of these price targets are being increased.
Cloud Peak Energy Inc. (NYSE: CLD) was taken to Outperform from Market Perform, and the target was raised to $28.00 from $23.00. Shares are trading up 1.6% at $20.95 and the 52-week trading range is $12.82 to $23.56.
CONSOL Energy Inc. (NYSE: CNX) was taken to Outperform from Market Perform, and the target was raised to $61.00 from $48.00. Shares are trading up 2% at $43.79 and the 52-week trading range is $31.08 to $58.00.
Patriot Coal Corporation (NYSE: PCX) was taken to Outperform from Market Perform, and the target was raised to $21.00 from $16.00. Shares are trading up 3.1% at $16.85 and the 52-week trading range is $9.76 to $24.25.
The move has the coal ETF via the Market Vectors Coal ETF (NYSE: KOL) trading up 1.1% as well at $44.91 and its 52-week range is $28.35 to $46.30.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
