Fly News Breaks for January 3, 2017
AR, ANR, EQT
Jan 3, 2017 | 10:50 EDT
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.
News For EQT;ANR;AR From the Last 2 Days