EQT Corporation resumed with a Neutral at Citi

Citi analyst Paul Diamond resumed coverage of EQT Corporation with a Neutral rating and $37 price target. While the acquisition of Equitrans caused some indigestion for investors, the firm believes investors will view the deal more fondly over time. Not only will the corporate cost structure improve, but capital intensity should fall, potentially more than initially expected post-compression investment, the analyst tells investors in a research note.