CNX Resources' Valuation, Regulatory Issues Moves Bull To Sidelines -- Market Talk

Dow Jones10-29

1404 ET - CNX Resources' current valuation presents more downside risk than upside risk, according to Truist Securities in a research note. Analysts say the integrated energy company, which is up 77% year-to-date, has failed at reassuring the market about the regulatory landscape regarding coal mine methane. Truist also says there's a lack of details on CNX's ability to bolster growth through other opportunities. Truist downgrades shares to hold from buy, and cuts its target price to $34 from $38. CNX Resources is off 2.7% to $35.57. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

October 28, 2024 14:04 ET (18:04 GMT)

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