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Why Core Natural Resources Stock Zoomed 6% Higher on Wednesday
Coal producer Core Natural Resources (NYSE: CNR) had a banner Wednesday on the stock exchange, rising by more than 6% across that day's trading session. The market was a reaction to an analyst's initiation of coverage on the stock, and his bullish evaluation of its prospects. Core's stock gain was in marked contrast to the S&P 500's (SNPINDEX: ^GSPC) trajectory; the index slipped by 0.3% Wednesday.The initiating party was Swiss bank UBS, in the person of analyst Myles Allsop. Before market open that day, Allsop launched his Core stock coverage with a buy recommendation and a price target of $80 per share. That anticipates upside of almost 12% on the stock's current level. Image source: Getty Images.Continue reading
Coal producer Core Natural Resources (NYSE: CNR) had a banner Wednesday on the stock exchange, rising by more than 6% across that day's trading session. The market was a reaction to an analyst's initiation of coverage on the stock, and his bullish evaluation of its prospects. Core's stock gain was in marked contrast to the S&P 500's (SNPINDEX: ^GSPC) trajectory; the index slipped by 0.3% Wednesday.
The initiating party was Swiss bank UBS, in the person of analyst Myles Allsop. Before market open that day, Allsop launched his Core stock coverage with a buy recommendation and a price target of $80 per share. That anticipates upside of almost 12% on the stock's current level.
Image source: Getty Images.
