CNX Resources downgraded to Hold from Buy at Truist

Truist analyst Bertrand Donnes downgraded CNX Resources (CNX) to Hold from Buy with a price target of $34, down from $38, post the Q3 report. Given the current uncertainty on the regulatory front and the lack of public details on the company’s ability to bolster growth through other opportunities, combined with the stock’s 83% year-to-date return, CNX’s current valuation presents more downside risk than upside risk through the end of 2024, the analyst tells investors in a research note.