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Fly News Breaks for October 28, 2015
CNX
Oct 28, 2015 | 09:04 EDT
BMO Capital cut its price target on CONSOL after the company reported lower than expected Q3 EPS. The firm notes that the company agreed to sell coal in 2016 for a significantly lower price than in 2Q15. Additionally, BMO noted that it lowered its 2016 natural gas price estimate. The firm says that the company's capital spending is flexible, while its valuation remains reasonable compared with other coal names. It keeps an Outperform rating on the shares.
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