CRN – Credit Suisse rates the stock as Outperform

The company has updated 2020 production guidance to 16.5-17mt. Sales volumes will be higher, given the draw on inventory in the US.

Credit Suisse notes there is little optimism about the short-term outlook for either thermal or metallurgical coal prices.

Soft manufacturing demand continues to plague the industry.

Still, Coronado Global is well-positioned for when prices recover, at least on the metallurgical side.

Outperform maintained. Target is reduced to $2.30 from $2.60.

Sector: Materials.

Target price is $2.30.Current Price is $1.02. Difference: $1.28 – (brackets indicate current price is over target). If CRN meets the Credit Suisse target it will return approximately 56% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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