Truist lowered the firm’s price target on EQT Corporation (EQT) to $37 from $39 and keeps a Hold rating on the shares. The firm is positive on the company’s Equitrans Midstream (ETRN) combination operationally, but also believes that the deal adds an equity overhang as midstream holders may have different priorities, and the incremental debt likely directs EQT’s free cash flow to leverage reduction over all other options for the near-term, the analyst tells investors in a research note.
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Read More on EQT:
- M & A News: EQT to Acquire Equitrans in Mega Deal
- EQT’s Strategic Merger with Equitrans Impacting Investors
- EQT Corporation to acquire Equitrans Midstream in all-stock transaction
- EQT Announces Transformative Acquisition of Equitrans Midstream
- EQT Corporation price target raised to $47 from $45 at Piper Sandler
