Mizuho analyst Nitin Kumar raised the firm’s price target on EQT Corporation to $40 from $39 and keeps a Neutral rating on the shares after the company announced the sale of 40% of its non-operated natural gas assets in Northeast Pennsylvania to Equinor for a combination of $500M in cash as well as upstream and midstream assets. The cash received makes for a limited impact on EQT’s deleveraging targets, the analyst tells investors in a research note.
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Read More on EQT:
- EQT Divests Stake in Assets, Secures Gas Buy-Back Deal
- Scotiabank shakes up ratings and targets in North American natural gas
- EQT Corporation upgraded to Outperform from Sector Perform at Scotiabank
- EQT Corporation upgraded to Market Perform from Underperform at Bernstein
- EQT Corporation price target raised to $43 from $42 at Jefferies
