Truist analyst Neal Dingmann downgraded EQT Corporation to Hold from Buy with a price target of $28, down from $41. The company will continue to adjust to the ongoing volatility in gas tape through minimal D&C along with an active choke program, potentially causing volumes to come in slightly lower than current consensus, the analyst tells investors in a research note. Truist further cites EQT’s stock price having held up better than any other natural gas name year-to-date, which warrants a lower rating.
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Published first on TheFly
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