** Citi highlights coal miner New Hope NHC.AX solid 1H results, driven by ramp-up of New Acland and lower cash costs, despite a softening in thermal coal prices
** Brokerage maintains a "buy" rating but lowers target price to A$5.30 from A$5.50
** However, Citi also notes NHC's outlook for FY25 remains unchanged except for revised down sustaining capex for Bengalla mine, with earnings down 6%/15% on reduced thermal coal prices
** Jefferies echoes similar sentiments, applauding NHC's implementation of A$100 mln buyback and a 19 Australian cents/share dividend, showcasing financial strength despite market conditions
** Brokerage reiterates "hold" rating with a revised down TP to A$4.60 from A$4.70, and views NHC as attractive exposure to the thermal coal market with growth opportunities
** 2 of 6 analysts rate the stock "buy" or higher, 3 as "hold" 1 as "sell"; their mean PT is A$5.04 – LSEG data
** Stock down 18.8% YTD as of the last close
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))
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