Barclays, a prominent financial services company, has initiated coverage on CNX Resources (CNX, Financial) with an "Equal-Weight" rating. The announcement by analyst Betty Jiang marks Barclays' first official rating for the natural gas company.
Alongside the rating, Barclays has set a price target of USD 33.00 for CNX Resources (CNX, Financial). This price target reflects the analyst's projection of the stock's potential value over the next 12 months, offering investors a benchmark for future performance.
The initiation of coverage by Barclays does not include any prior rating or price target adjustments, as this is the first time the firm has issued a formal outlook on CNX Resources (CNX, Financial).
Investors will be monitoring CNX Resources (CNX, Financial) closely, as Barclays' initiation of coverage could influence market perceptions and potentially impact the stock's trading behavior.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for CNX Resources Corp (CNX, Financial) is $31.09 with a high estimate of $40.00 and a low estimate of $25.00. The average target implies an downside of 2.90% from the current price of $32.02. More detailed estimate data can be found on the CNX Resources Corp (CNX) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, CNX Resources Corp's (CNX, Financial) average brokerage recommendation is currently 3.4, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for CNX Resources Corp (CNX, Financial) in one year is $23.24, suggesting a downside of 27.42% from the current price of $32.02. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the CNX Resources Corp (CNX) Summary page.
