Jefferies analyst Lloyd Byrne raised the firm’s price target on EQT Corporation (EQT) to $49 from $48 and keeps a Buy rating on the shares. The firm expects EQT to report EBITDA/CFPS of $434M/85c for Q2 on total volumes of about 5.32 bcfepd with capex of $582M. Jefferies estimates free cash flow outflow of $200M. Further, the firm believes market focus will likely be on Equitrans Midstream (ETRN) closing, second half of 2024 guidance, commentary on MVP, planned divestments/timing and deleveraging path to accomplish the long-term total debt target.
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