CNX Resources Shares Surpass Analyst Target Price: What’s Next?
Recently, shares of CNX Resources Corp (Symbol: CNX) have surpassed the average analyst target price of $29.69, trading at $29.86 per share. This situation prompts an interesting dilemma for analysts: downgrade based on valuation or raise their target price. The decision may hinge on recent positive developments related to the company’s fundamentals, potentially warranting a higher target price.
Within the Zacks coverage universe, 13 different analysts have contributed to CNX Resources Corp’s average target. However, this average represents a mathematical mean and does not capture the full range of opinions. While some analysts set lower targets, with one predicting a price of $22.00, others have set ambitious targets as high as $35.00, resulting in a standard deviation of $3.66.
The reason investors monitor the average price target lies in the concept of “wisdom of crowds.” This approach incorporates insights from various analysts rather than relying on a single expert’s viewpoint. With CNX now above the average target price of $29.69, investors should consider whether this price might serve as a stepping stone to even higher valuations or signal that it might be time to reassess their investments. Below, we provide a breakdown of the current perspectives from analysts covering CNX Resources Corp:
| Recent CNX Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 0 | 0 | 0 | 0 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 7 | 6 | 5 | 6 |
| Sell ratings: | 1 | 1 | 1 | 1 |
| Strong sell ratings: | 6 | 7 | 7 | 5 |
| Average rating: | 3.88 | 4.02 | 4.1 | 3.92 |
The average rating displayed in the table above ranges from 1 to 5, where 1 indicates a Strong Buy, and 5 signifies a Strong Sell. Data for this article was provided by Zacks Investment Research via Quandl.com. For the latest research on CNX, visit the Zacks research report — available for free.
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The views expressed in this article reflect those of the author and do not necessarily represent those of Nasdaq, Inc.
