CNX Resources price target lowered to $27 from $29 at Truist

Truist lowered the firm’s price target on CNX Resources to $27 from $29 but keeps a Buy rating on the shares. The company’s Q4 results topped estimates, though the firm also tapped the breaks on its previously bullish stance on New Tech free cash flows, with the traditional E&P business picking up the slack, the analyst tells investors in a research note. Truist adds that it continues to forecast strong free cash flows in the coming quarters given its view that CNX is best positioned to withstand the current low pricing environment.