CNX Coal Resources Receives a Buy from FBR Capital

By Jason Carr

FBR Capital analyst Lucas Pipes reiterated a Buy rating on CNX Coal Resources (NYSE: CNXC) today and set a price target of $23. The company’s shares closed yesterday at $19.05.

According to TipRanks.com, Pipes is a 4-star analyst with an average return of 9.5% and a 55.1% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Stillwater Mining Company, Westmoreland Coal Company, and Hallador Energy Company.

Currently, the analyst consensus on CNX Coal Resources is Strong Buy and the average price target is $23, representing a 20.7% upside.

In a report issued on November 10, Jefferies also upgraded the stock to Buy with a $22 price target.

The company has a one year high of $22.30 and a one year low of $5.98. Currently, CNX Coal Resources has an average volume of 93.37K.

CNX Coal Resources LP manages and develops active thermal coal operations in Pennsylvania. The company was founded on March 16, 2015 and is headquartered in Canonsburg, PA.