Jefferies Upgrades CNX Coal Resources LP (CNXC) to Buy

November 10, 2016 8:02 AM EST
Get Alerts CNXC Hot Sheet
Price: $17.90 --0%

Rating Summary:
    8 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies upgraded CNX Coal Resources LP (NYSE: CNXC) from Hold to Buy with a price target of $22.00.

Analyst Christopher LaFemina commented, "CNXC is a US coal MLP. While CNXC does not have high exposure to the seaborne coal, its exports are likely to grow in response to high seaborne prices. CNXC's annualized distribution yield is 11.5%. O n our estimates, this distribution is fully covered for the next four years. As investors begin to believe in the sustainability of relatively high coal prices, we would expect the CNXC share price to go higher. "

For an analyst ratings summary and ratings history on CNX Coal Resources LP click here. For more ratings news on CNX Coal Resources LP click here.

Shares of CNX Coal Resources LP closed at $19.90 yesterday.

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