In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on CONSOL Energy CNX, and raised the price target from $50.00 to $53.00.
In the report, Deutsche Bank noted, “We reiterate Buy and raise PT $3/sh to $53/sh, with the increase driven by more aggressive Marcellus drilling and lower coal cash costs. Our PT uses an average of NAV and EV/EBITDA multiples based approaches. We apply a 10% discount to the NAV and value 2015E EBITDA at 7.0x for Coal and 8.0x for Gas.”
CONSOL Energy closed on Tuesday at $43.93.
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