Morgans is forecasting a 25%-plus yield over 13 months for metallurgical coal company Coronado Global Resources.
The broker notes the full-year results either met or outpaced its prospectus and Morgan’s estimates. The company also announced a special dividend and upgraded production and reserve figures.
Morgans lifts the target price to $4.05 from $3.97 and maintains an Add rating.
Sector: Materials.
Target price is $4.05.Current Price is $3.65. Difference: $0.40 – (brackets indicate current price is over target). If CRN meets the Morgans target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
