Strong 3Q Shipments for Consol Energy, Jefferies & Company Reports - CNX Resources (NYSE:CNX)

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Consol Energy Inc. (NYSE: CNX) is the largest Northern Appalachian coal producer with diverse energy assets (thermal coal, met coal, and natural gas), Jefferies & Company reports. Q3 shipments were strong despite the idling of Mine 84 and sale of Jones Fork.“Our price target of $55 per share reflects 7x EV/EBITDA multiple on our 2012 forecasted EBITDA of $2.2 billion and 12.5x 2012 EPS; in line with historical valuation,” Jefferies & Company writes. “Risks relate to a decline in energy prices, slowdown in the global met/ thermal market, domestic energy regulation, sustainable sub-$4.00 natural gas prices.”Consol Energy closed Friday at $36.76.

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