RBC Capital analyst Scott Hanold expects Chapter IV Investors' letter to EQT Corporation (EQT) to drive conversations on the merits of consolidation in the Appalachian region. Mergers can make sense in the Marcellus liquids-rich Utica, but dry-gas Utica value "can still be debated," making certain combinations "a bit more challenging," Hanold tells investors in a research note. The analyst expects "some" industry consolidation once natural gas prices find a more stabilized balance around $3.50/MMBtu, which he thinks could occur over the next 12-18 months. Hanold has an Outperform rating on EQT with an $88 price target.

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's... To see the rest of the story go to thefly.com. See Story Here

Piper Sandler analyst Mark Lear lowered the firm's price target on EQT Corporation to $41 from $47 and keeps an Overweight rating on the shares as part of a Q1 preview for the exploration and production group. Energy has been hot, almost too hot, as $90 crude potentially cools the pace of consolidation and investors looking for ways to play the data center and power demand theme turn to gas equities, the analyst tells investors in a research note. The firm adjusted oil and gas price assumptions, expecting crude pricing to remain strong through Q3 and gas pricing pressure to persist through the balance of fiscal 2024.