TD Cowen raised the firm’s price target on CNX Resources (CNX) to $29 from $27 and keeps a Hold rating on the shares. The firm said CNX printed 1Q results holding guidance flat across the board despite uncertain macro and while management indicated they expect a lull in activity from 2-3Q with a potential step back up in activity in 4Q, they continue to monitor conditions for the opportunity to re-ramp production given the right environment.
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