EQT Corporation re-initiated with a Sector Perform at RBC Capital

RBC Capital re-initiated coverage of EQT Corporation (EQT) with a Sector Perform rating with a price target of $49. EQT shares are a core long-term natural gas holding, but are likely to trade in line to peers given its relative valuation, the analyst tells investors in a research note. The firm says the recent monetization of a portion of its midstream ownership accelerates debt reduction and shareholder return increases.