BofA analyst Doug Leggate raised the firm’s price target on EQT Corporation (EQT) to $60 from $52 and keeps a Buy rating on the shares, arguing that EQT’s acquisition of Equitrans Midstream (ETRN) “brings two almost perfectly integrated businesses back together and resets EQT’s competitive cost advantage.” The firm views the logic of the all-stock deal as “compelling” and calls it “a bold move by an innovative management team to change the risk profile of its outlook.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on EQT:
- M & A News: EQT to Acquire Equitrans in Mega Deal
- EQT’s Strategic Merger with Equitrans Impacting Investors
- EQT Announces Transformative Acquisition of Equitrans Midstream
- EQT Corporation price target raised to $47 from $45 at Piper Sandler
- EQT Corporation to curtail 1 Bcf per day of gross production
Questions or Comments about the article? Write to editor@tipranks.com