Reports Q4 revenue $1.3B, consensus $958.79M.

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.

As previously reported, Wells Fargo downgraded EQT Corporation (EQT) to Equal Weight from Overweight with a price target of $37, down from $48. The firm acknowledges that the recently announced merger with Equitrans Midstream (ETRN) should position the company as a unique "Gas E&P + Midstream" entity, resembling a mini super-major. However, it is clear the E&P and midstream investor communities will take some time to embrace this integrated model, versus the prevailing preference for pure-play narratives. While Wells holds a long-term positive view on the transaction, the transaction adds debt, complicates the story, requires time to develop and adds execution risk in terms of integration and asset dispositions. Consequently, the firm believes the pending merger substantially increases the stock's equity risk premium over the next 12 months.

Wells Fargo analyst Roger Read downgraded EQT Corporation to Equal Weight from Overweight with a price target of $37, down from $48.