Market Update: Wall Street Analysts Take On CNX Coal Resources

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.