Truist Initiates Coverage of EQT Corporation (EQT) With a Buy Rating and $74 PT

EQT Corporation (NYSE:EQT) is one of the most profitable NYSE stocks to invest in. Truist initiated coverage of EQT Corporation (NYSE:EQT) with a Buy rating and $74 price target on March 23, telling investors in a research note that the company “stands out” as the largest Appalachian pure-play natural gas levered exploration and production company that holds core acreage in Pennsylvania, West Virginia, and Ohio targeting the Marcellus Shale. It further stated that EQT Corporation (NYSE:EQT) is best positioned to capture upside from the improving natural gas backdrop.

In another development, Bernstein cut the price target on EQT Corporation (NYSE:EQT) to $69 from $73 on March 22, reiterating an Outperform rating on the shares. The firm updated models in the energy and transportation group to take into account the current crude prices and crack spreads, “while acknowledging a wide range of future outcomes.” It further stated that the wars that do not end within weeks typically continue for years, and given the “uncertainty and right tail risk”, Bernstein continues to recommend adding energy exposure.

EQT Corporation (NYSE:EQT) is a natural gas production company involved in the provision of supply, transmission, and distribution of natural gas.

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