UPDATE: Jefferies Lowers PT on CONSOL Energy from $50 to $46
Jefferies maintained a Buy rating on CONSOL Energy (NYSE: CNX) and lowered its price target from $50 to $46.
Jefferies wrote, “We continue to believe coal names like CONSOL are lacking a short-term catalyst. And, we are cutting estimates again to reflect ongoing challenges in the sector. However, we believe fundamentals are slowly turning more positive and that CNX's substantial coal and gas resources are undervalued.'
CONSOL Energy closed at $28.46 on Thursday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.