Piper Sandler raised the firm’s price target on CNX Resources (CNX) to $23 from $20 and keeps an Underweight rating on the shares following a deal to acquire Apex Energy. The firm raised its price target on the back of the acquisition and reiterated its rating on the stock given “strong” year-to-date performance, the valuation premium and its view that the company has limited opportunity to grow free cash slow from its environmental attributes business.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CNX:
- CNX Resources put volume heavy and directionally bearish
- CNX to acquire natural gas upstream, midstream business of Apex for $505M
- CNX Resources downgraded to Underweight from Neutral at JPMorgan
- Diversified Energy price target raised to $21 from $19 at Truist
- CNX Resources downgraded to Hold from Buy at Truist