Aurizon’s (ASX:AZJ) coal haulange volumes to decline in H2 FY21

Financial research firm Jefferies has mentioned that coal haulage volumes for Aurizon Holdings Limited (ASX:AZJ) might go lower 5.2% in H2 FY21 as compared to the volume an year ago and has added that there is a potential for Q4 FY21 to be flat compared to the prior corresponding period.

As per refinitiv, Jefferies has maintained ‘buy’ rating for the Company and retained price target at A$5.36 per share.

The North Queensland Bulk Ports Corporation released its coal export data for Feb, hinting at a 7.1% drop in volumes as compared to last year, while China stayed shut to Australian coal.

As per the Brokerage firm, while coal export volumes were less, miners were successful in redirecting coal to other Asian markets.

As per refinitiv, six of 12 analysts rate the stock buy, four hold and two sell. The median price target is quoted at A$4.55 per share.

Meanwhile, the stock was trading at A$3.790, higher 2.156% at 11 AM AEDT.

 

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