UPDATE: Societe Generale Initiates EQT Corporation at Buy on Natural Gas Exposure
Societe Generale initiated coverage on EQT Corporation (NYSE: EQT) with a Buy rating and a $71 price target.
Societe Generale noted, "We initiate coverage of EQT Corporation (EQT) with a BUY rating and a target price (TP) of $71 (based on a risked net asset value calculation, supported by a multiples analysis) for 25.5% projected 12m TSR with a reward to risk ratio of 2.2x (1 being neutral). Alongside RRC, EQT is now our preferred way to invest in natural gas exposure."
EQT Corporation closed at $57.28 on Tuesday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.