Goldman Sachs Lowers Target on CONSOL Energy (CNX), But Maintains Buy and Sees 25% Upside

Goldman Sachs cuts its price target on Buy-rated CONSOL Energy (NYSE: CNX) from $47 to $40, but still sees 25% upside.

The stock fits all their key themes: (1) its low cost thermal coal, met coal and Marcellus gas are more defensive/resilient than peers; (2) it has leading organic EBITDA growth driven by its E&P business; (3) E&P well results provide strong company-specific catalysts; and (4) all of its thermal coal to be sold in 2012 is priced.

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 $34.05 yesterday.

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