Bear of the Day: CONSOL Energy

October 21, 2010 Zacks Investment Research

We have downgraded our recommendation on CONSOL Energy (CNX) to Underperform, primarily due to disappointing third-quarter coal production results.

Concerns regarding the formulation of stricter safety legislations and rigid penalties on underground mining, due to the recent Upper Big Branch mine incident, make our view negative for underground miners such as CONSOL.

We have downgraded our recommendation for CONSOL shares to Underperform from Neutral. Our $35 target price, 9.4x 2011 EPS, reflects this view.

CONSOL ENERGY (CNX): Free Stock Analysis Report

About Zacks Investment Research 1766 Articles

Zacks Investment Research is one of the most highly regarded firms in the investment industry. In 1978 Zacks originated the concept of utilizing earnings estimates revisions to make profitable investment decisions. Zacks offers multiple investment products and services to help investors achieve superior returns.

Visit: Zacks.com

Be the first to comment

Leave a Reply

Your email address will not be published.


*

Copyright © 2021 Wall Street Pit | Contact Us | Advertise | Terms of Use | Privacy Policy