UPDATE: Dahlman Rose Lowers Target to $44 on Consol Energy
Dahlman Rose cut its target on Buy-rated Consol Energy (NYSE: CNX) to $44, down $1, as the company idles Longwall, hinting at a weakening domestic thermal outlook.
Dahlman Rose says, "After the close Tuesday, CNX announced the idling of the Blacksville #2 longwall in WVA. The mine produced 4.3MM tons in 2012. Given the company was essentially sold out for 2012 as of latest guidance, the implied pushback from existing customer business is worrisome."
CNX closed at $36.30 a share on Tuesday.
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