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Mizuho Securities Believes EQT (EQT) Still Has Room to Grow

In a report issued on April 27, Vincent Lovaglio from Mizuho Securities maintained a Buy rating on EQT (EQTResearch Report), with a price target of $64.00. The company’s shares closed last Thursday at $40.59, close to its 52-week high of $45.50.

According to TipRanks.com, Lovaglio is a top 25 analyst with an average return of 50.4% and a 86.6% success rate. Lovaglio covers the Utilities sector, focusing on stocks such as Continental Resources, Occidental Petroleum, and Southwestern Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for EQT with a $51.62 average price target, which is a 29.1% upside from current levels. In a report issued on April 21, Piper Sandler also maintained a Buy rating on the stock with a $58.00 price target.

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Based on EQT’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.82 billion and net profit of $1.8 billion. In comparison, last year the company earned revenue of $841 million and had a net profit of $63.69 million.

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EQT Corp. engages in natural gas production, gathering, and transmission in the Appalachian area. The EQT Production segment focuses on the exploration, development and production of natural gas, natural gas liquids and crude oil. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

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