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 EQT (NYSE: EQT), 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.
Latest Ratings for EQT
|Sep 2015||Deutsche Bank||Maintains||Buy|
|Aug 2015||Global Hunter||Upgrades||Accumulate||Buy|
|Jul 2015||Cowen & Company||Initiates Coverage on||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.