Mizuho analyst Nitin Kumar raised the firm’s price target on CNX Resources (CNX) to $35 from $34 and keeps an Underperform rating on the shares. Mizuho expects a 6% and 4% miss, respectively, on Q1 EBITDA and cash flow per share vs. consensus, the analyst tells investors in a research note. Despite what most view as a favorable macro environment for U.S. natural gas, CNX remains committed to maintaining a high level of commodity price hedges, the firm adds.
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