Wells Fargo Maintains Overweight Rating for EQT: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wells Fargo has reaffirmed its Overweight rating on EQT Corporation (NYSE:EQT) and increased its price target from $51.00 to $53.00. Despite the positive outlook, EQT's shares have fallen 1.3% in the last 24 hours to $39.50. The new price target suggests a potential upside of 34.18% from the current share price. EQT is a natural gas production company operating in the Marcellus and Utica shales in the Appalachian Basin, with all revenue generated in the U.S.
November 22, 2023 | 5:00 pm
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Wells Fargo maintains an Overweight rating on EQT Corp and raises the price target to $53, indicating a potential 34.18% increase from the current price.
The reaffirmation of an Overweight rating and the increase in price target by a reputable financial institution like Wells Fargo typically instills confidence in investors and can lead to a positive short-term impact on the stock price. The potential upside of 34.18% is significant and may attract investor interest, despite the recent 1.3% decline in share price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100