RBC Capital Names Top 30 Global Stock Ideas for 2026

A federal judge blocked New York's $75 billion climate superfund law, ruling it conflicts with federal law. Judge Brenda Sannes sided with Republican-led states and energy groups, finding the law preempted by the Clean Air Act. The law aimed to hold energy companies liable for global greenhouse gas emissions, but the judge ruled it infringed on federal interests. The ruling comes ahead of a Supreme Court case on similar issues. Companies like ExxonMobil and Chevron were involved in the challenge

A federal judge blocked New York's $75 billion climate superfund law, ruling it conflicts with federal law and cannot force energy companies to pay for global greenhouse gas emissions. Judge Brenda Sannes sided with Republican-led states and energy groups, finding the law preempted by the Clean Air Act. The ruling comes as the Supreme Court prepares to hear a similar case in October. New York's law aimed to fund climate infrastructure projects using payments from major fossil fuel companies.

Core Natural Resources (CNR) expanded President Mitesh Thakkar's role and promoted Nathan Tucker to CFO. Q2 2026 sales were $1.14B with net income of $126.47M. The company projects $4.8B revenue and $614.1M earnings by 2029. Analysts' views vary on future earnings, with some seeing $540.9M by 2029. Investors focus on operational execution and regulatory risks.

Canadian Natural Resources Ltd. (CNRL) deferred its $8.25B Jackpine oilsands expansion due to policy uncertainty, despite record production and earnings. The company awaits clarity on carbon pricing, methane rules, and export capacity. Ottawa announced $3.6B in programs to accelerate critical-minerals development, highlighting the gap between government rhetoric and industry action.

UBS downgraded Core Natural Resources (NYSE:CNR) to Neutral from Buy, raising its price target to $105.00. The move follows a 15% monthly and 35% annual share price increase, with the stock trading at 4.5x forward EV/EBITDA. UBS noted improved operations but believes the valuation now reflects this. The company received a potential multi-million-dollar grant from the U.S. Department of Energy for critical mineral recovery.

Core Natural Resources (CNR) reported Q2 2026 sales of $1.14B and net income of $126.47M, reversing a year-ago loss. Shares fell 4.01% in one day but rose 32.42% over one year. Analysts estimate a fair value of $109.50, above the last close of $92.03, citing cost efficiencies and market strategy. Risks include global coal demand and environmental regulations.