Wells Fargo analyst Roger Read raised the firm’s price target on EQT Corporation to $46 from $39 and keeps an Overweight rating on the shares ahead of the Q2 results. The quarter “appears operationally sound” but weaker regional natural gas liquids demand and a likely $145MM capex outspend from lower natural gas prices are minor negatives, the analyst tells investors investors in a research note. However, the firm expects an improvement in 2024 price realizations.
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