Citigroup downgraded its rating of EQT EQT to Neutral with a price target of $40.00, changing its price target from $60.00 to $40.00.
Shares of EQT are trading down 1.71% over the last 24 hours, at $36.28 per share.
A move to $40.00 would account for a 10.25% increase from the current share price.
EQT Corp is an independent natural gas production company with operations focused in the cores of the Marcellus and Utica shales in the Appalachian Basin, located in the Eastern United States. The firm focuses on executing combo-development projects for developing multiwell pads to meet supply needs, with a focus on maximizing operational efficiency, technology, and sustainability. Its main customers include marketers, utilities, and industrial operators in the Appalachian Basin. The company has one reportable segment and its revenue stems from three types of gas reserves: natural gas, natural gas liquids, and crude oil. All of the firm's operating revenue is generated in the U.S., with most revenue flowing from the Marcellus Shale field and through the sale of natural gas.
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