EQT Corporation price target raised to $46 from $41 at Piper Sandler

Piper Sandler analyst Mark Lear raised the firm’s price target on EQT Corporation to $46 from $41 and keeps an Overweight rating on the shares following Q1 results and updated guidance. EQT introduced Q2 production guidance of 455-505 Bcfe and reduced FY24 production guidance to 2.1-2.2 Tcfe with plans to curtail 1 bcf/d of operated volumes through May. EQT also guided Q2 opex of $1.49/mcfe at midpoint, +10% quarter-over-quarter, while FY24 was maintained at $1.43/mcfe, says Piper.