UPDATE: Morgan Stanley Reiterates On EQT As Model Steward For Shareholders

In a report published Friday, Morgan Stanley analyst Drew Venker reiterated an Equal-Weight rating on

, and raised the price target from $85.00 to $100.00. In the report, Morgan Stanley noted, “EQT trades at a fair multiple to reflect its superior production growth through 2018. Significant midstream assets limit downside risk and provide a source of capital as EQT drops down these assets to its midstream MLP (EQM), over time. Trades 1 turn above gas weighted peers on 2016e EV/EBITDA based on our 2014-16e production CAGR of 30%. One of the most shareholder friendly management teams in the industry that continuously seeks ways to increase shareholder value.” EQT closed on Friday at $95.64.