The analyst rating of "Buy" for YANCOAL AUS (03668.HK) is based on the company's high exposure to thermal coal sales, which is projected to be 84% in 2025. The recent disruptions in natural gas production and the resulting surge in natural gas prices are expected to shift energy consumption from natural gas to coal, benefiting YANCOAL. Additionally, the report indicates that a 1% increase in thermal coal prices could boost the company's net profit by 5%. Given these factors, CMBI maintained its target price at $38.
