Jefferies analyst Lloyd Byrne maintained a Buy rating on EQT (EQT – Research Report) yesterday and set a price target of $55.00.
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Lloyd Byrne has given his Buy rating due to a combination of factors including EQT’s strong financial performance in the fourth quarter of 2024 and positive outlook for 2025. The company’s adjusted EBITDA exceeded expectations, supported by higher sales volumes and favorable pricing in natural gas and natural gas liquids, alongside lower operating costs.
Additionally, EQT’s increased production guidance for 2025, alongside strategic capital investments, indicates robust future growth prospects. The company is also expected to reduce its net debt significantly by the end of 2025, which underscores its financial stability. Furthermore, the ongoing integration of Equitrans and realization of synergies bolster the company’s operational efficiency and long-term potential.
Byrne covers the Energy sector, focusing on stocks such as Suncor Energy, Cenovus Energy, and Conocophillips. According to TipRanks, Byrne has an average return of 21.4% and a 53.63% success rate on recommended stocks.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $53.00 price target.