NEW YORK, Sept 13 - Shares of CONSOL Energy (CNX.N), the largest producer of Eastern coal, might rise more than they already have this year on signs of improving global coal demand, Barron's reported on Sunday.
CONSOL shares have risen 55 percent to about $42 since Barron's wrote about the company in March, and analysts see the shares rising another 10 percent to $46 in 2010.
CONSOL also trades for 6.6 times enterprise value (market value plus net debt) to EBITDA (earnings before interest, taxes, depreciation and amortization), Barron's said, below the EV/EBITDA multiples of rival coal producers Peabody Energy (BTU.N) and Arch Coal (ACI.N).
CONSOL exports about 10 percent of its output to Europe and could stand to gain if China's demand for metallurgical coal for making steel cuts into Europe's supply, Barron's said.
CONSOL shares have risen 55 percent to about $42 since Barron's wrote about the company in March, and analysts see the shares rising another 10 percent to $46 in 2010.
CONSOL also trades for 6.6 times enterprise value (market value plus net debt) to EBITDA (earnings before interest, taxes, depreciation and amortization), Barron's said, below the EV/EBITDA multiples of rival coal producers Peabody Energy (BTU.N) and Arch Coal (ACI.N).
CONSOL exports about 10 percent of its output to Europe and could stand to gain if China's demand for metallurgical coal for making steel cuts into Europe's supply, Barron's said.
