Brean Murray Carret & Co. Maintains a 'Buy' on CONSOL Energy (CNX); Ash Settling, But L-T Value Unchanged

Brean Murray Carret & Co. maintains a 'Buy' on CONSOL Energy (NYSE: CNX) price target cut from $62 to $53.

Analyst, Lucas Pipes, said, "CONSOL reported a Q1 miss with EPS of $0.42 versus the Street at $0.58. The company's coal segment performance largely surprised due to a decrease in realized prices for its Buchanan low-vol met coal product...Overall coal volume guidance was lowered for Q2 and FY12, but gas volume guidance was unchanged. While Q1 results were disappointing, especially the lower realized prices for its Buchanana product, we continue to believe that CONSOL Energy is an attractive long-term investment in the coal space due to the low-cost nature of its mining complexes and underappreciated value of its natural gas assets."

Brean analyst cuts FY12 EPS estimate from $2.28 to $1.54 and FY13 from $3.04 to $1.99.

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 $33.21 yesterday.

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