Goldman Sachs Downgrades Consol Energy (CNX)
Goldman Sachs reported on Monday that they have lowered their rating for coal and natural gas producer, CONSOL Energy Inc.(CNX).
The firm has downgraded CNX from “Buy” to “Neutral,” and has raised the company’s price target from $34 to $36. This price target suggests a 16% increase from the stock’s current price of $30.19.
Analysts view the company as a better performer compared to other companies in the coal and natural gas industry. A strong balance sheet, diversification, and a decreased exposure to declines has helped CNX, but the firm sees greater upside to Cloud Peak Energy(CLD) and Peabody(BTU).
CONSOL Energy shares were down 45 cents, or -1.47% during premarket trading Monday. The stock has declined -9.7% in the past year.
The Bottom Line
Shares of CONSOL Energy Inc.(CNX) have a 1.63% yield, based on Friday’s closing price of $30.64.
CONSOL Energy Inc.(CNX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.
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