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

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

** 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



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