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Macquarie talks coal, BofA still likes CONSOL

Nov. 26, 2013 2:07 PM ETCloud Peak Energy Inc. (CLD) StockBTU, CNX, ARCH, CLDPQBy: Colin Lokey, SA News Editor3 Comments
  • Macquarie is out with some commentary on a few coal names.
  • Cloud Peak Energy (CLD -0.7%) is still a Top Pick as analyst Luke McFarlane views it "as the safe haven in the group, with every $1/t move in PRB potentially impacting 2014 earnings by ~25-cents per share or ~30%." Price target hiked to $19 from $18.
  • Peabody (BTU -0.7%) gets an upgrade to Outperform from Neutral. "BTU's Australian assets will remain under pressure, and investors should remain conservative when modelling cost into 2014," McFarlane warns, before noting that Macquarie "would use recent weakness to build positions.” Price target hiked to $24 from $20.
  • Arch Coal (NYSE:ACI) is reiterated at Neutral, although McFarlane lifts his price target by $0.40.
  • Meanwhile, BofA reiterates a Buy recommendation on CONSOL Energy (CNX +0.4%). Analyst Timna Tanners' price target is $43.

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