EQT Corp. Upgraded at BMO as Potential Seen Fully Realized in 2023

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Eqt Corporation Intrinsic Value – EQT($NYSE:EQT) Corp shares were upgraded to Outperform from Market Perform by BMO Capital on Monday, with a $65 price target, citing the potential for strong gas prices and increased free cash flow next year. BMO analyst Phillip Jungwirth said EQT shares are attractively valued with 2023 EV/EBITDA and P/E ratios near the low end of peers, while the company’s 30% free cash flow yield is at the high end. Jungwirth wrote that management has successfully transformed EQT into a competitive company with a strong cost structure, cash margins, capital efficiency, and leverage, and that the enhanced performance will be fully realized in 2023.

Price History

On Monday, EQT CORPORATION stock opened at $45.0 and closed at $47.3, up by 2.8% from previous closing price of 46.1. BMO believes that EQT’s potential will be fully realized by 2023, with the company’s focus on cost reduction and operational improvements leading to increased shareholder value.

VI Analysis – Eqt Corporation Intrinsic Value

The company’s fundamentals reflect its long term potential. VI app makes it easy to analyze the company’s financial statements and determine the fair value of its shares. The fair value of EQT CORPORATION share is around $35.2, calculated by VI Line. However, the stock is currently traded at $47.3, which is overvalued by 34%.

Summary

EQT Corp was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Monday, The Fly reports. EQT Corporation, together with its subsidiaries, operates as an integrated natural gas and oil company in the United States. It operates through three segments: EQT Production, EQT Gathering, and EQT Transmission. The EQT Production segment produces natural gas, crude oil, and natural gas liquids .