Nomura Securities Raises Estimates on CONSOL Energy (CNX); Solid Q2 Update
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Price: $35.46 -0.62%
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CNX Now!
Nomura Securities maintains a 'Buy' on CONSOL Energy (NYSE: CNX) price target of $45.00.
Analyst, Curt Woodworth, said, "We believe Consol remains a growth stock despite structural erosion in eastern thermal markets; we reiterate our price target. We view Consol’s 2Q operational update positively, as it reflects better-than expected low vol met coal production and strong operational performance on the gas side. We believe that Consol’s strong growth potential in the dry gas portion of the Marcellus should be boosted by successful drilling results in the Utica Shale as well as in the wet gas section of the Marcellus, where more results are expected in the near term, with the Marcellus wet gas update likely when CNX reports 2Q earnings on July 26. CNX’s 2Q-12 coal production of 14.6mt, a 7% QoQ decline, is above our 14.3mt target, and is at the midpoint of company’s guidance announced in 1Q. We have revised our 2Q-12 and FY12 EPS estimates up, to $0.27 /$1.69 from $0.22/$1.65, due to increased shipment in 2Q. F13E EPS revised down to $1.60 from $1.75 earlier."
For an analyst ratings summary and ratings history on CONSOL Energy click here. For more ratings news on CONSOL Energy click here.
Shares of CONSOL Energy closed at $31.66 yesterday, with a 52 week range of $26.41-$55.02.
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Analyst, Curt Woodworth, said, "We believe Consol remains a growth stock despite structural erosion in eastern thermal markets; we reiterate our price target. We view Consol’s 2Q operational update positively, as it reflects better-than expected low vol met coal production and strong operational performance on the gas side. We believe that Consol’s strong growth potential in the dry gas portion of the Marcellus should be boosted by successful drilling results in the Utica Shale as well as in the wet gas section of the Marcellus, where more results are expected in the near term, with the Marcellus wet gas update likely when CNX reports 2Q earnings on July 26. CNX’s 2Q-12 coal production of 14.6mt, a 7% QoQ decline, is above our 14.3mt target, and is at the midpoint of company’s guidance announced in 1Q. We have revised our 2Q-12 and FY12 EPS estimates up, to $0.27 /$1.69 from $0.22/$1.65, due to increased shipment in 2Q. F13E EPS revised down to $1.60 from $1.75 earlier."
For an analyst ratings summary and ratings history on CONSOL Energy click here. For more ratings news on CONSOL Energy click here.
Shares of CONSOL Energy closed at $31.66 yesterday, with a 52 week range of $26.41-$55.02.
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