Piper Sandler analyst Mark Lear raised the firm’s price target on EQT Corporation to $47 from $46 and keeps an Overweight rating on the shares. The firm notes that heading into Q2 results there have been a few key themes that continue to drive interest in E&P, including further operating efficiencies resulting in accelerated TIL activity, further consolidation in the space and recent deals coming outside the Permian basin, a scarcity of SMID upstream ideas in the wake of Russell 2000 promotions and cooling gas sentiment ahead of Matterhorn start up at the end of Q3.
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