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 readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool