EQT (EQT – Research Report), the Energy sector company, was revisited by a Wall Street analyst today. Analyst Angeliki Bairaktari from J.P. Morgan reiterated a Buy rating on the stock and has a $58.00 price target.
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Angeliki Bairaktari’s rating is based on EQT’s positive performance and strategic moves that enhance its operational efficiency and market positioning. The company delivered a strong quarterly update with significant cash flow, exceeding expectations, and maintaining high production levels despite challenges. They have successfully reduced capital expenditures and improved capital efficiency, which are expected to continue into 2025 with a forecasted decrease in well costs.
Moreover, EQT holds an optimistic outlook for the natural gas market, driven by factors such as increased demand from LNG exports and infrastructure growth. The company’s strategic decisions, such as the merger with ETRN, aim to consolidate operations and reduce costs, positioning EQT advantageously within the industry. These factors, combined with a favorable long-term view of natural gas fundamentals and anticipated synergies from the merger, justify the Buy rating and a positive long-term investment thesis.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $63.00 price target.
Based on the recent corporate insider activity of 59 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.