CNX Resources’ analyst price target has increased modestly from $31.57 to $32.21, as analysts cite adjustments in discount rates and outlook. This follows near-term challenges in revenue growth and profit margin forecasts.

Analyst Commentary

Recent analyst coverage of CNX Resources reflects a mix of optimism about long-term operational execution and caution regarding near-term market and industry headwinds. Revised price targets over the past quarter highlight diverging expectations on valuation, supply growth, and the natural gas price outlook.

• Bullish analysts note that CNX's continued focus on capital discipline and maintaining spending near maintenance levels, even as gas fundamentals improve, supports shareholder value and cash flow stability.
• Positive outlooks are reinforced by the extension of CNX's tax-free period, which is now projected through 2028 to 2029, allowing for longer-term value creation and supporting higher net asset value estimates.
• Some analysts remain enthusiastic about the broader North American natural gas sector, believing a bull market is developing that could benefit CNX's performance and valuation multiples.
• Expectations for "clean" operational updates in upcoming quarters suggest confidence in management's execution and asset quality, positioning CNX for resilience amid broader industry volatility.

• Bearish analysts are cautious about weaker gas and NGL realizations, which are expected to keep near-term cash flows below consensus and pressure earnings growth forecasts.
• Price targets have been trimmed by some as supply growth challenges persist in the gas market, with limited improvements in pricing expected until supply is curbed and market fundamentals improve.
• Concerns remain that the industry has not resolved persistent oversupply issues, which could weigh on future returns and limit upward revisions to valuation estimates.
• Recent downgrades and reduced targets among gas-exposed companies reflect worries that weak supply-demand fundamentals may linger, especially through 2026, muting CNX's immediate growth momentum.

What's in the News

• CNX Resources reported third quarter 2025 production of 161.3 Bcfe, up from 134.5 Bcfe a year earlier. Average daily production rose to 1,753.3 MMcfe from 1,461.8 MMcfe. (Key Developments)
• The company revised its 2025 production guidance upward to a range of 620 Bcfe to 625 Bcfe. This is compared to the previous range of 615 Bcfe to 620 Bcfe. (Key Developments)
• Alan Shepard, currently President and CFO, will become President and CEO effective January 1, 2026. He will succeed longtime CEO Nick Deiuliis, who will retire and join the Board of Directors. (Key Developments)

Valuation Changes

• Consensus Analyst Price Target has risen slightly from $31.57 to $32.21, reflecting minor adjustments to underlying assumptions.
• Discount Rate decreased modestly from 7.89% to 7.66%, which suggests a lower perceived risk profile or cost of capital.
• Revenue Growth projections have fallen significantly, dropping from 8.49% to 2.74%. This indicates reduced near-term expectations.
• Net Profit Margin is down from 34.61% to 32.47%, implying softer profitability forecasts.
• Future P/E ratio has increased from 5.94x to 6.26x. This points to a slight expansion in valuation multiples despite near-term earnings pressures.