Amid strong coal demand, especially the coming power consumption peak in the second quarter, China's coal price is predicted to stand at a high level, said ICEA, China's ICBC's investment bank arm.

    Obviously, Yanzhou Coal (600188.SH; 1171.HK; YZC. NYSE) will be the largest beneficiary compared to the peers, ICEA said.

    Yanzhou Coal's contract coal price yearly rose by 38.1 percent in 2008, but China Shenhua (1088.HK) and China National Coal (1898.HK)'s price only rose by 10-11 percent this year. And its H share's 2008 forecast PE is only 13 times, 35 percent lower than the peers' 20.7 times.

    So the broker targets Yanzhou Coal's H share price at 16.9 HK dollars, about 14.5 times of 2008 forecast PE.