EQT, the Energy sector company, was revisited by a Wall Street analyst today. Analyst Devin McDermott from Morgan Stanley reiterated a Buy rating on the stock and has a $69.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Devin McDermott has given his Buy rating due to a combination of factors including EQT’s strong quarterly performance and strategic growth initiatives. The company exceeded production expectations and managed to keep capital expenditures below consensus, highlighting its operational efficiency. Additionally, EQT’s updated 2025 guidance reflects increased production forecasts due to the Olympus acquisition, while maintaining capex levels, which underscores their efficiency gains.
Furthermore, EQT’s strategic growth through recent power deals is expected to add significant free cash flow in the coming years. The analyst also notes the improved capital efficiency and newly announced gas sales and midstream growth as positive factors. The recent decline in share price is seen as an overreaction, presenting a favorable opportunity for investment, leading to the reiteration of EQT as a top pick in the U.S. exploration and production sector.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $68.00 price target.
Based on the recent corporate insider activity of 69 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.