FBR Analyst Likes Coal in Christmas Stockings (PCX, CNX, CLD, KOL)

Commodities & Metals

Published: December 20, 2010 9:57 am

Last Updated: April 27, 2020 9:12 pm

Apparently it seems that getting coal in your Christmas stockings is now a good thing. FBR Capital Markets has a research report this morning that is highlighting some select coal names and the impact is enough to influence the sector as well.

FBR Capital Markets raised the rating on Patriot Coal Corporation (NYSE: PCX), CONSOL Energy Inc. (NYSE: CNX), and Cloud Peak Energy Inc. (NYSE: CLD). All were raised to Outperform, but the standout call is how much some of these price targets are being increased.

Cloud Peak Energy Inc. (NYSE: CLD) was taken to Outperform from Market Perform, and the target was raised to $28.00 from $23.00. Shares are trading up 1.6% at $20.95 and the 52-week trading range is $12.82 to $23.56.

CONSOL Energy Inc. (NYSE: CNX) was taken to Outperform from Market Perform, and the target was raised to $61.00 from $48.00. Shares are trading up 2% at $43.79 and the 52-week trading range is $31.08 to $58.00.

Patriot Coal Corporation (NYSE: PCX) was taken to Outperform from Market Perform, and the target was raised to $21.00 from $16.00. Shares are trading up 3.1% at $16.85 and the 52-week trading range is $9.76 to $24.25.

The move has the coal ETF via the Market Vectors Coal ETF (NYSE: KOL) trading up 1.1% as well at $44.91 and its 52-week range is $28.35 to $46.30.

JON C. OGG

The Average American Has No Idea How Much Money You Can Make Today ^(Sponsor)

The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.

But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

¹https://www.fdic.gov/national-rates-and-rate-caps