TD Cowen analyst Gabe Daoud initiated coverage of CNX Resources (CNX) with a Hold rating and $27 price target The shares significantly outperformed natural gas and the company’s peers in 2024, driven by commodity beta and new tech potential, the analyst tells investors in a research note. However, the firm says the final 45V guidance recently released appears overly restrictive and does not create enough economic incentive to expand coal mine methane operations. TD views CNX shares as fairly valued.
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