EQT stock price target raised to $70 from $60 at Jefferies on Olympus acquisition
Investing.com
Published Jul 08, 2025 08:58AM ET
Investing.com - Jefferies has raised its price target on EQT Corp. (NYSE:EQT) to $70.00 from $60.00 while maintaining a Buy rating on the stock. The new target represents significant upside from the current price of $56.16, with InvestingPro data showing analyst targets ranging from $36 to $74.
The price target increase follows EQT (ST:EQTAB)'s acquisition of Olympus Energy and the company's first-quarter results, according to Jefferies' research note.
Jefferies updated its estimates for EQT to reflect the Olympus Energy acquisition, along with first-quarter results and the firm's price deck.
For the second quarter of 2025, Jefferies models EBITDA (pre-NCI) of approximately $1.13 billion on volumes of about 559 bcfe, which is 2% above the guidance midpoint.
The firm also projects capital expenditures of $650 million for the quarter, which is 2% below the guidance midpoint.
In other recent news, EQT Corporation has completed its acquisition of Olympus Energy assets, issuing over 25 million shares of common stock and approximately $440 million in cash as part of the deal. This acquisition aligns with EQT’s strategic moves, as it also extended the maturity of its revolving credit facility by one year, with PNC Bank serving as the administrative agent. Meanwhile, EQT has agreed to pay $167.5 million to settle a class-action lawsuit related to its 2017 merger with Rice Energy, marking a significant resolution in one of the largest securities class actions in the U.S. District Court Western District of Pennsylvania. Analysts have shown optimism about EQT’s future, with Mizuho reinstating coverage with an Outperform rating, citing potential growth in LNG exports and increased power demand. Barclays also initiated coverage with an Overweight rating, noting EQT’s risk-adjusted exposure to natural gas amidst price volatility. Additionally, Bernstein analysts have highlighted EQT as a top investment idea, emphasizing its potential for steady free cash flow and growth in the U.S. natural gas market. These developments indicate a strategic positioning by EQT to capitalize on evolving market opportunities.
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