Analyst Lloyd Byrne of Jefferies maintained a Buy rating on EQT, retaining the price target of $68.00.
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Lloyd Byrne has given his Buy rating due to a combination of factors that highlight EQT’s strong operational performance and financial outlook. The company reported impressive third-quarter results, surpassing expectations with an adjusted EBITDA of approximately $1.2 billion, which is 14% higher than Jefferies’ estimates. This performance was driven by higher sales volumes, favorable natural gas realizations, and record low per-unit operating costs.
Additionally, EQT’s capital expenditures were below the lower end of their guidance, and sales volumes were near the high end, demonstrating efficient operational execution. The integration of Olympus and a robust MVP have further strengthened their position. Looking ahead, EQT is on track to meet its year-end 2026 net debt target of $5 billion, which reinforces the company’s financial stability and growth potential.
Byrne covers the Energy sector, focusing on stocks such as Cenovus Energy, EQT, and Baker Hughes Company. According to TipRanks, Byrne has an average return of 16.0% and a 51.44% success rate on recommended stocks.