Analyst Josh Silverstein from UBS reiterated a Buy rating on EQT and keeping the price target at $76.00.
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Josh Silverstein has given his Buy rating due to a combination of factors that, in his view, position EQT favorably despite recent share price weakness. He expects a constructive fourth-quarter operational update, with cash flow and production near the high end of guidance, indicating solid execution and operational momentum. Even though some infrastructure spending is being accelerated into 2026, he interprets this as strategic investment that should support stronger production volumes and value creation beyond 2027, particularly as gas price expectations improve. In addition, the company’s plan to pull forward midstream and infrastructure projects, such as compression and water systems and the Clarington-related work, is seen as building out a platform for long-term growth across EQT’s value chain.
Silverstein also emphasizes the strengthening balance sheet as a key reason for maintaining a positive stance on the stock. He forecasts that EQT will reduce net debt below its $7.5 billion target by year-end 2025, which should expand the company’s financial flexibility in a volatile gas price environment. This deleveraging is expected to open the door for more shareholder-friendly capital allocation, including potential share repurchases funded by excess free cash flow, especially if Henry Hub prices remain supportive. He further notes the potential upside from cost efficiencies and development in areas like the deep Utica, along with EQT’s early moves in AI-enabled supply agreements, as additional strategic drivers that reinforce the Buy rating.
In another report released today, Mizuho Securities also reiterated a Buy rating on the stock with a $68.00 price target.