was reading the Goldman report in comsecthey have a pt of $2.60...

was reading the Goldman report in comsec
they have a pt of $2.60 based on a coal price of $70
interesting! Report was dated 21sept after annual results

here is an extract hoping I am not breaking any rules

We remain Neutral on: (1) Valuation: The stock is trading at c. 0.9xNAV (A$2.34/sh) at our long-run thermal of US$70/t (real), with 21% upside to our TP, lower on a relative basis than our Buy-rated coverage (and coal sector peers CRN and WHC), howeer; (2) FCF yield on base case is still attractive: NHC’s Bengalla mine in NSW is one of the lowest cost thermal coal operations in Australia. NHC is trading on a FY22/23 FCF yield of 42%/15% on our base case and c. 55% at spot thermal. (3) Strong balance sheet and capital returns outlook: NHC will have net cash (+ leases) of c. A$273mn by the end of FY22 (July) on our estimates. We forecast a dividend yield of 13%/8% for FY22-23 (c. 25% at spot).