Goldman Sachs Gets Bullish on the Coal Sector (CNX, BTU)

Filed in dividend, Gold, Gold Investment, goldman sachs, outperform, shares by on August 12, 2010 0 Comments

Analysts at Goldman Sachs on Thursday boosted their price targets on a number of coal-related stocks, including Consol Energy Inc. ( CNX ) and Peabody Energy ( BTU ) . The firm noted that coal stocks have outperformed the S&P by 5% over the past month, and that they see further outperformance in coming weeks. Goldman cited higher expected steel production, growth in China, and more normalized coal inventories for the improved outlook. Goldman raised its price target for CNX from $45 to $48, and maintained its “Buy” rating. That new target represents a potential 23% upside to the stock’s Wednesday closing price of $36.63. Meanwhile, the firm boosted its target for BTU from $55 to $58, also maintaining its “Buy” rating. That target represents an expected 27% upside to the stock’s Wednesday closing price of $45.84. The Bottom Line Shares of BTU have a .61% dividend yield, based on last night’s closing stock price of $45.84. Shares of CNX have a 1.09% dividend yield, based on last night’s closing stock price of $36.64. Consol Energy Inc. ( CNX ) is not a recommended stock at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Peabody Energy Corporation ( BTU ) also not currently recommended, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Goldman Sachs Gets Bullish on the Coal Sector (CNX, BTU)

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