CNX Resources Shares Fall After Downgrade From Truist

MT Newswires Live

2024-10-29

CNX Resources (CNX) shares were down more than 3% in recent Monday trading after Truist downgraded the company's stock to hold from buy and adjusted its price target to $34 from $38.

CNX reported Q3 results exceeding market expectations, yet the main subject of discussions remained the free cash flow of the company's new technologies business segment, according to Truist.

Truist said it has "taken a more conservative stance on New Tech FCF growth until the company can provide additional certainty on the future projects."

Trading volume stood at close to 1.1 million shares against a daily average of about 2.5 million shares.

Price: 35.43, Change: -1.14, Percent Change: -3.12

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