BUZZ-Coal India gains as Citi hikes price target

Reuters12:56
BUZZ-<a href="https://laohu8.com/S/CLNDY">Coal India</a> gains as Citi hikes price target

** Coal India's COAL.NS stock up 3.2% to 449.5 rupees, top gainer on Nifty 50 index .NSEI, which is up 0.51%

** Stock set to rise most in a session since Jan 28

** COAL above 100-day, 200-day SMAs since late Dec

** Citi hikes PT to 430 rupees from 415 rupees, expects stock to rise in next 90 days

** Brokerage says high LNG prices, due to Middle East war, expected to prompt gas-to-coal switch, driving up coal prices and potentially higher e-auction prices

** J.P.Morgan awaits "broader fundamentals to improve before turning constructive" on stock

** Avg rating by 21 analysts is "buy", median PT 436 rupees - data compiled by LSEG

** YTD, COAL up 13% vs .NSEI's 6% loss

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))

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