Whitehaven Shares Expected to Gain as Iran Conflict Drives Up Thermal Coal -- Market Talk

Dow Jones
03/04

0344 GMT - Whitehaven Coal could enjoy a large tailwind from rising coal prices on the Middle East conflict, says Ord Minnett analyst Tim Elder. The broker upgrades its recommendation on the stock to buy from accumulate and lifts its price target to A$9.80 from A$9.40. Elder says the conflict is creating risks for energy supply. He highlights a 12% increase in thermal-coal futures "on the expectation of a shortfall in supply." There could be "increasing supply risks if the conflict is drawn out," he adds. Roughly 36% of Whitehaven's revenue comes from thermal-coal exports, says Elder. The stock is up 0.7% at A$8.25. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

 

(END) Dow Jones Newswires

March 03, 2026 22:44 ET (03:44 GMT)

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