Core Natural Resources (CNR) – Among the 10 Energy Stocks Positioned to Outperform as the Strait of Hormuz Remains Closed

Core Natural Resources, Inc. (NYSE:CNR) is included among The $200 Oil Playbook: 10 Energy Stocks Positioned to Outperform as the Strait Remains Closed.

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Core Natural Resources, Inc. (NYSE:CNR) is a world-class producer and exporter of high-quality, low-cost coals, including metallurgical and high calorific value thermal coals.

On March 12, UBS increased its price target on Core Natural Resources, Inc. (NYSE:CNR) from $105 to $109, while maintaining a ‘Buy’ rating on the shares. The revised target indicates an upside of over 11% from the current levels.

Core Natural Resources, Inc. (NYSE:CNR) also received a boost from soaring coal prices, which are up 16% since the end of February. The escalating US-Iran war has led to the closure of the Strait of Hormuz, effectively disrupting around 20% of the global crude oil and LNG supply. This has driven many countries, particularly in Asia, to consider replacing oil and gas with coal in their energy mix. Unlike coal and gas, Hormuz is not a major corridor for coal exports, leading to the high demand.

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