EQT Corporation initiated with an Equal Weight at Stephens

Stephens initiated coverage of EQT Corporation with an Equal Weight rating and $36 price target. The company’s capex and production are near the low end of the firm’s natural gas peer group, the analyst tells investors in a research note. The firm adds however that EQT’s acquisition of private Tug Hill offsets legacy assets and adds depth to the company’s drilling inventory in a liquids rich area.