TD Cowen analyst David Deckelbaum has maintained their bullish stance on EQT stock, giving a Buy rating yesterday.
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David Deckelbaum has given his Buy rating due to a combination of factors including EQT’s operational efficiency and strategic growth initiatives. The company has achieved a 1% increase in gas production while reducing capital expenditures by 8%, thanks to improved well costs and enhanced compression following midstream acquisitions. This operational efficiency is expected to continue, with EQT’s guidance for 2025 indicating production slightly above estimates with lower operating expenses.
Additionally, EQT’s growth projects are poised to significantly boost free cash flow, with expectations of an additional $250 million by the second quarter of 2025. The company’s recent strong quarterly performance, which included exceeding production estimates and achieving lower unit costs, further supports the positive outlook. These strategic moves and financial results underpin Deckelbaum’s confidence in EQT’s ability to deliver value, justifying the Buy rating.
In another report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $72.00 price target.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQT in relation to earlier this year.