Texas Capital analyst Matthew Key initiated coverage of Core Natural Resources (CNR) with a Buy rating and $105 price target The company is a diversified coal producer that operates an impressive portfolio of assets across three major business segments – High CV Thermal, Metallurgical, and Powder River Basin, the analyst tells investors in a research note. Formed via an all-stock merger between CONSOL Energy and Arch Resources, Core Natural Resources will prove to be highly accretive and offer a number of benefits to shareholders, including an impressive combined scale, greater diversification across coal products, and strong synergy potential, the firm added.
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