Canaccord Genuity Upgrades EQT Corp. (EQT) to Hold; Risk/Reward Better Elsewhere
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Price: $52.86 -2.87%
Rating Summary:
35 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
Rating Summary:
35 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
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Canaccord Genuity upgraded EQT Corp. (NYSE: EQT) from Sell to Hold, price target raised from $45 to $50.
Analyst, John Gerdes, said, "EQT peaked at almost $70 in late October before swooning to current levels near $50. We remain skeptical of the idea that EQT can garner a materially higher valuation for its midstream assets in an MLP, though EQT’s takeout premium appears to have largely dissipated...We are raising our target price to $50 due to a higher gas price realization, a greater liquids composition and refinements to midstream margins. Due to valuation, we are upgrading shares."
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 $49.64 yesterday.
Analyst, John Gerdes, said, "EQT peaked at almost $70 in late October before swooning to current levels near $50. We remain skeptical of the idea that EQT can garner a materially higher valuation for its midstream assets in an MLP, though EQT’s takeout premium appears to have largely dissipated...We are raising our target price to $50 due to a higher gas price realization, a greater liquids composition and refinements to midstream margins. Due to valuation, we are upgrading shares."
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 $49.64 yesterday.
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