Citi Upgrades CONSOL Energy (CNX) to Buy
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Citi upgrades CONSOL Energy (NYSE: CNX) from Hold to Buy. However, price target lowered from $88 to $71.
Citi analyst says, "With CNX shares 55% off mid-year highs and selling at 5.7x P/E and 3.4x EV/EBITDA against 2010E, we see compelling value given its N.App position and growing cash contribution from the CXG gas subsidiary."
CONSOL Energy Inc. (CONSOL Energy) is a multi-fuel energy producer and energy services provider that primarily serves the electric power generation industry in the United States.
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