In a report released today, Lucas Pipes from B.Riley FBR reiterated a Buy rating on CONSOL Energy Inc (NYSE: CEIX), with a price target of $48. The company’s shares opened today at $41.82.
Pipes observed:
“We wanted to provide key takeaways from investor meetings with CONSOL Energy (CEIX) last week. Jimmy Brook (President and McCaffrey (Chief Thakkar (Finance and Investor Relations) represented the company. The discussions centered on the company’s exposure to strong seaborne markets. Export netback prices are in the mid-$50’s per ton on the 2019 API2 curve, which we believe bodes well for rising average realizations. The company’s sales strategy sees as much as 40% of its production sold in the export market, flexibility that is underscored by its ownership of the 15M tons of annual capacity.”
According to TipRanks.com, Pipes is a 4-star analyst with an average return of 7.5% and a 61.8% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Novagold Resources Inc New, and Newmont Mining Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CONSOL Energy Inc with a $46.67 average price target.
See today’s analyst top recommended stocks >>
Based on CONSOL Energy Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $45.16 million. In comparison, last year the company had a net profit of $47.93 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
CONSOL Energy Inc. engages in the production of bituminous coal. It operates through the Pennsylvania Mining Complex (PAMC) and Other segments. The PAMC segment consists of mining, preparation, and marketing of thermal coal, sold primarily to power generators.
