Canaccord Genuity Reiterates a 'Hold' on EQT Corp. (EQT); Competitive Marcellus Wells

Canaccord Genuity reiterates a 'Hold' on EQT Corp. (NYSE: EQT) price target of $57.00.

Analyst, John Gerdes, said, "We reiterate our rating and maintain our target price following minor model refinements. Our target price is anchored on a $5 long-term NYMEX gas price, which is only modestly higher than the gas price currently reflected in E&P equities.EQT trades at a ~20% premium (‘13E EBITDA) to the group though the CFPS growth (’12-’14) is comparable. Accordingly, we retain our rating as we believe EQT is fairly valued near current levels."

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 $56.07 yesterday.

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