Nomura Securities Starts CONSOL Energy (CNX) at Buy

Nomura Securities initiates coverage on CONSOL Energy (NYSE: CNX) with a Buy. PT $45.00.

Analyst, Curt Woodworth, said, "Recent underperformance of the shares has been driven primarily by the significant decline in natural gas prices, which has offset successful shale JV deals and coal operating performance. We believe fundamentals in the gas market are nearing a bottom. FY12E/13E revenues $5760m / $5819m; 2012E/2013E EPS $2.90 / $2.50."

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 $35.26 yesterday.

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