Nomura Securities Maintains a 'Buy' on CONSOL Energy (CNX); Operational Update

Nomura Securities maintains a 'Buy' on CONSOL Energy (NYSE: CNX) price target of $45.00.

Analyst, Curt Woodworth, said, "We believe Consol’s operational update removes some uncertainty with respect to gas production volumes for 2012 but creates more uncertainty for coal. While Consol’s 1Q12 coal production of 15.7mt is above our target and is at the midpoint of company guidance prior to the production cut announcements, CNX suspended full-year production guidance. We believe CNX’s Buchanan longwall will be back online in the next 30-60 days due to improving market and demand for low-vol coal. Note that Alpha Natural Resources (NYSE: ANR) and CNX are the only Buy-rated coal stocks in our coverage universe."

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 $34.01 yesterday.

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