JP Morgan analysts have increased their price target on Australia’s Aurizon Holdings (ASX:AZJ) to A$3.90 per share, up from A$3.80 per share.

They suggest that favourable weather conditions create a promising outlook for the coal volumes of the rail freight operator.

Maintaining an ‘overweight’ rating on the stock, Aurizon (ASX:AZJ) appears to be following the broader market’s trend, experiencing a 1.6% decrease.

A collective evaluation from 14 analysts shows a diverse range of opinions on the stock: six rate it as ‘buy’ or higher, six as ‘hold’, and two as ‘sell’, their median price target was found to be A$3.90, according to LSEG data.

This year, Aurizon (ASX:AZJ) has seen a 1.1% downfall till latest close.

Aurizon Holdings (ASX:AZJ) is a rail freight operator specializing in the transportation of coal in Australia.