CNX Resources (CNX) PT Lowered to $38 at Mizuho

Mizuho analyst Nitin Kumar lowered the price target on CNX Resources (NYSE: CNX) to $38.00 (from $42.00) while maintaining a Neutral rating.

The analyst commented: "We expect an in-line 3Q26 print from CNX vs. Street estimates, with EBITDAX ~2% below consensus and FCF broadly in line. Looking beyond the quarter, we believe investor focus will shift toward the company's 2027 operating outlook as CNX approaches the conclusion of its seven-year plan. While we expect management to maintain a relatively flat production profile, continued capital discipline and strong FCF generation should remain central to the investment thesis. We also see environmental attribute monetization and 45Z tax credits continuing, which provide an additional source of cash flow outside the company's traditional upstream operations. We lower our NAV-based price target to $38 from $42 to reflect a weaker 12-month natural gas price outlook and maintain our Neutral rating."

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