Analyst Devin McDermott of Morgan Stanley maintained a Buy rating on EQT (EQT – Research Report), retaining the price target of $63.00.
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Devin McDermott’s rating is based on EQT’s impressive operational efficiency and strong financial performance. The company reported a significant production beat in the fourth quarter, achieving the high end of their guidance despite facing curtailments. Their capital expenditures were notably below consensus expectations, reflecting enhanced efficiency in their operations.
Additionally, EQT’s guidance for 2025 indicates promising future prospects, with capital spending per unit of production projected to decrease and production levels expected to be higher than previously anticipated. The company is also making progress in reducing debt and has realized substantial synergies ahead of schedule. These factors, combined with strong interest from potential partners in utilizing their gas resources, contribute to the positive outlook and justify the Buy rating.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $53.00 price target.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQT in relation to earlier this year.