CNX Resources upgraded to Buy from Hold at Truist

Truist upgraded CNX Resources to Buy from Hold with a price target of $27, up from $20. The firm expects investor sentiment to remain depressed over the next few months in the gas space, but anticipates CNX’s “strong hedging profile to insulate the name, while still providing investors exposure to longer-term gas asset upside.” In addition, the company’s New Tech business line could provide enough non-gas linked upside catalysts to keep investors interested during a reduced sentiment period, the analyst tells investors in a research note.