UPDATE: Dahlman Rose Reiterates Buy Rating, Lowers PT for Consol Energy

In an earnings update, Dahlman Rose & Co. reiterated its Buy rating for Consol Energy Inc. (NYSE: CNX) and lowered its price target from $40.00 to $38.00.

Dahlman Rose went on to say “The company disclosed in the release that thermal customers have requested deferrals on about 5 million tons. CNX is working with those customers on timing and terms, with some tonnage expected to be pushed out past 2012. No new discussions for 2013 tonnage are underway due to market conditions. On the positive side, the company began selling thermal coal to India during the quarter, with further sales to India and China booked for 2Q.”

Consol Energy Inc. closed at $34.09 yesterday.