Deutsche Bank Reinstates Foresight Energy (FELP) at Buy

Deutsche Bank reinstated coverage on Foresight Energy (NYSE: FELP) with a Buy rating and a price target of $23.00.

Analyst Jorge Beristan said, "We continue to favor MLPs within our Coal coverage and in particular Foresight, being amongst the lowest cost producers operating in the Illinois Basin, a region set to gain share in the US thermal coal market, due to its high energy content and low delivered cost. Foresight's new partnership with Murray Energy could lead to significant synergies, which could in turn lead to even lower mining costs and provide future growth for both companies through integrations and future drop-downs of other assets into the public MLP."

For an analyst ratings summary and ratings history on Foresight Energy click here. For more ratings news on Foresight Energy click here.

Shares of Foresight Energy closed at $13.99 yesterday.

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