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UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on EQT Corporation

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In a report published Friday, Deutsche Bank reiterated its Buy rating on EQT Corporation (NYSE: EQT), and raised its price target from $69.00 to $74.00.

Deutsche Bank noted, “We went all the way to Pittsburgh and all we got was a Utility Sale....Our thesis at EQT has been the company is focused on accelerating resource development from the Marcellus in a highly accretive fashion via the monetization of other assets and use of low cost funding (MLP dropdowns, non-core asset sales). Today's move to sell the distribution segment (utility) is consistent with this strategy and provides further proceeds to 1) accelerate production growth in 2014+ (our estimates are 600 bps above consensus) and 2) potentially fund further growth from an emerging opportunity in the Utica.”

EQT Corporation closed on Thursday at $59.17.

Latest Ratings for EQT

DateFirmActionFromTo
Aug 2015Global HunterUpgradesAccumulateBuy
Jul 2015Cowen & CompanyInitiates Coverage onOutperform
Jun 2015BarclaysInitiates Coverage onOverweight

View More Analyst Ratings for EQT
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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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