According to a research report published this morning, Brean Murray Carret & Co. has downgraded EQT EQT from Buy to Hold, and removed its $77 PT.
In the report, Brean Murray Carret & Co. said, "We are downgrading EQT to Hold because we believe that the company's main 2012 catalyst, the upcoming IPO of an MLP containing its midstream assets, has already been priced into the stock at current levels. Moreover, the delay of the Logansport processing facility into the fourth quarter (from July) defers the ~$1.50/Mcf of incremental liquids pricing uplift we had seen as a second major catalyst for the company."
EQT closed yesterday at $51.51.
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