BofA analyst Doug Leggate raised the firm’s price target on EQT Corporation (EQT) to $60 from $52 and keeps a Buy rating on the shares, arguing that EQT’s acquisition of Equitrans Midstream (ETRN) “brings two almost perfectly integrated businesses back together and resets EQT’s competitive cost advantage.” The firm views the logic of the all-stock deal as “compelling” and calls it “a bold move by an innovative management team to change the risk profile of its outlook.”
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Read More on EQT:
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- EQT’s Strategic Merger with Equitrans Impacting Investors
- EQT Announces Transformative Acquisition of Equitrans Midstream
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