EQT Corporation price target raised to $41 from $37 at Truist

Truist analyst Neal Dingmann raised the firm’s price target on EQT Corporation to $41 from $37 and keeps a Hold rating on the shares as part of a broader research note on Gas E&Ps. Over the next three weeks, the firm sees substantial reductions to the gas group’s Q2 estimates by the Street largely as a result of pricing as price decks need to drop from $2.25-2.35/m to $2.10/m and given the wider assumptions for differentials in the Northeast, the analyst tells investors in a research note. Truist adds however that given the gas price performance over the past four weeks, the negative operator sentiment that led to rig cut decisions in Q1 has likely passed, with most investors now “sharpening their pencils to avoid missing a potential recovery”.