Core Natural Resources price target raised to $78 from $67 at Jefferies

Jefferies raised the firm’s price target on Core Natural Resources (CNR) to $78 from $67 and keeps a Hold rating on the shares. Jefferies believes the outlook for thermal coal demand and prices in the U.S. is improving due to policy changes and expected power demand growth in the country, the analyst tells investors in a research note. The firm does not expect a meaningful recovery in seaborne met coal prices until next year at the soonest, but a restart of Leer South will help Core, Jefferies says.