Market Overview

Market Update: Wall Street Analysts Take On CNX Coal Resources

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Thermal coal producer CNX Coal Resources LP (NYSE: CNXC) was introduced to the New York Stock Exchange on July 1. The company was formed by CONSOL Energy Inc (NYSE: CNX). The coal producer offered 5 million of its common shares to the public at the price of $15 per unit.

The stock has been up and down since its IPO, but has not moved too much from its initial $15 per common share. Many Wall Street analysts initiated coverage on the new stock Monday:

  • Goldman Sachs: Neutral and price target of $17.
  • JP Morgan: Overweight; PT of $18.
  • Bank of America: Buy; PT of $17.
  • Citigroup: Buy; PT of $20.
  • Credit Suisse: Outperform; PT of $22.
  • Cowen Group: Outperform; PT of $17.
  • Jefferies Group: Hold; PT of $14.50.
  • Stifel Nicolaus: Buy; PT of $19.

SUMMARY: 3 Buy, 2 Outperform, 1 Overweight, 1 Neutral, and 1 Hold rating; Price target range $14.50 - $22.00.

Latest Ratings for CNXC

DateFirmActionFromTo
Jan 2021Cross ResearchInitiates Coverage OnBuy
Dec 2020B of A SecuritiesInitiates Coverage OnBuy
Oct 2017CitigroupMaintainsNeutral

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