Bernstein upgraded both EQT Corporation (EQT) and Devon Energy (DVN) to Outperform from Market Perform with price targets of $73 and $45, respectively. The firm has “strong conviction” in a new U.S. gas landscape at higher mid-cycle prices.” It sees “significant but highly certain growth” from 2024 to 2030 in liquified natural gas exports. Both companies should benefit from significant power demand growth amid growing data center demand, the analyst tells investors in a research note.
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Read More on EQT:
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