The New Hope Corporation Limited (ASX: NHC) share price has returned to form on Tuesday.
In morning trade, the coal miner's shares are up a sizeable 10% to $5.93.
This compares favourably to the S&P/ASX 200 Index (ASX: XJO), which is up 0.4% this morning.
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Why is the New Hope share price rocketing higher?
The New Hope share price is charging higher on Tuesday despite there being no news out of the company.
However, it is worth noting that the energy sector is booming today after some significant weakness recently.
For example, the S&P/ASX 200 Energy index is up 2.3% at the time of writing, with all but one constituent in positive territory.
Coal shares have been the standout. The Coronado Global Resources Inc (ASX: CRN) share price is up 4% and the Whitehaven Coal Ltd (ASX: WHC) share price is up 6% at the time of writing.
Where next for New Hope's shares?
Opinion is divided on where the New Hope share price is heading from here.
For instance, the team at Credit Suisse thinks the coal miner's shares are dirt cheap and have an outperform rating and $7.80 price target on them.
Whereas analysts at Goldman Sachs feel they are overvalued and have put a sell rating and lowly $3.80 price target on them.
Time will tell which broker makes the right call on New Hope.
