Jefferies Upgrades 5 Firms On ‘Game-Changing’ Coal Price InflationBala Murali Krishna
The recent red-hot coal price rise may not be sustainable but they are fueling higher commodity prices, Jefferies said as it raised commodity price forecasts and announced a string of upgrades.
“Coal price inflation is a game-changer,” the bank asserted as it re-rated South32 (S32), CNX Coal Reserves (CNXC) and Glencore (GLEN) from Hold to Buy; and raised Anglo American (AAD) and Vedanta (VED) from Underperform to hold. It maintained the Buy . . .
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