Deutsche Bank Upgrades EQT Corp. (EQT) to Buy; Small Changes in Commodity Pricing Matter
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Price: $80.58 +0.90%
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade EQT Now!
Deutsche Bank upgraded EQT Corp. (NYSE: EQT) from Hold to Buy with a price target of $59.00.
Deutsche analyst said, "Natural Gas fundamentals are improving. A high quality asset base (current Marcellus program still generates a 25% IRR at $3.00/mmbtu prices), solid balance sheet (31% debt to cap) and go forward development plan all position EQT to win. Unlike financially levered or higher cost peers, modest increases in deferred natural gas prices hold significant promise for EQT's asset base. The key to value recognition is via acceleration of development, and with a funding strategy secured and the outlook for the commodity improving, we look for the equity to reflect more of this potential outcome."
For an analyst ratings summary and ratings history on EQT Corp. click here. For more ratings news on EQT Corp. click here.
Shares of EQT Corp. closed at $50.75 yesterday, with a 52 week range of $43.69-$73.10.
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Deutsche analyst said, "Natural Gas fundamentals are improving. A high quality asset base (current Marcellus program still generates a 25% IRR at $3.00/mmbtu prices), solid balance sheet (31% debt to cap) and go forward development plan all position EQT to win. Unlike financially levered or higher cost peers, modest increases in deferred natural gas prices hold significant promise for EQT's asset base. The key to value recognition is via acceleration of development, and with a funding strategy secured and the outlook for the commodity improving, we look for the equity to reflect more of this potential outcome."
For an analyst ratings summary and ratings history on EQT Corp. click here. For more ratings news on EQT Corp. click here.
Shares of EQT Corp. closed at $50.75 yesterday, with a 52 week range of $43.69-$73.10.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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