North America February 2014 Analysis

Industry Trend Analysis - Consol Restructuring Should Pay Dividends - FEB 2014

We maintain that Consol Energy's recent shift towards natural gas and away from coal remains aligned with our long-held view towards US power sector dynamics. We forecast that demand for thermal coal will stagnate through 2023 as utilities continue their shift towards gas-fired electricity production. Though the firm's Q413 profit jump is largely tied to its recent sale of five coal mines, we...

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