Commodity strategists at Morgans lift metallurgical coal price forecasts driving 7-33% 2022-24 EPS upgrades for Coronado Global Resources. The 2022-24 hard coking coal forecasts rise by 6-15% and the long term price estimate remains at US$170/t.
The broker also sees upside risk for dividends. The target price rises to $2.97 from $2.73 and the Add rating is unchanged.
Sector: Materials.
Target price is $2.97.
