JPMorgan raised the firm’s price target on EQT Corporation (EQT) to $53 from $50 and keeps an Overweight rating on the shares as part of a Q4 preview. The firm anticipates another solid operational print for EQT in Q4, with its model calling for “upbeat” volumes and slightly higher financials given “strong” well productivity trends. With the completion of both the non-operating and midstream asset sales, EQT is now fully concentrated on implementing its core business plan to generate free cash flow for debt reduction, the analyst tells investors in a research note.
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