Australia's Coronado dips; Bell Potter raises PT, EPS estimates on rosy coal price outlook

Coronado Global Resources

12/01/2024 24:59

** Analysts at Bell Potter raise price target for
Australia's Coronado Global Resources  CRN.AX  to A$2.15 and net
EPS estimates on their promising coal price outlook
    ** Shares of the coal miner fall as much as 0.9% to A$1.75 
    ** Brokerage increases net EPS estimates by 15% and 6% for
CY23 and CY24, respectively
    ** Also raises hard coking coal price outlook for CY24 by 2%
and by 13% for CY26 with no change in CY25 estimates
    ** Nine of 10 analysts rate the stock "buy" or higher, and
one "sell" or lower; their median PT is A$2.05 – LSEG data
    ** Stock lost 11.6% in 2023, after climbing for two
consecutive years 

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))