UBS upgraded EQT Corporation (EQT) to Buy from Neutral with a price target of $64, up from $54. The firm cites the company’s improved operational performance post the Equitrans acquisition and a continued positive natural gas outlook to 2026 and beyond for the upgrade. EQT’s positive skew to rising natural gas prices, ramping 2026 shareholder returns to 57% of free cash flow, and potential acquisitions and power supply contracting catalysts are additional drivers for the stock, the analyst tells investors in a research note. UBS sees upside potential to EQT’s free cash flow and production outlook, which it believes is not reflected in the stock price.
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