On January 18, 2026, Jefferies reaffirmed its Buy rating on EQT Corporation, lifting its 12-month price target from $68 to $71. The move underscores Jefferies’ confidence in EQT’s cost efficiencies and production outlook in the Appalachian Basin. This marks the third consecutive target increase by Jefferies over the past nine months, reflecting continued operational outperformance against drilling and completion cost forecasts.

Among 25 research firms covering EQT, 20 currently carry Buy or Outperform ratings, while five maintain Hold or Neutral views. The average 12-month target price sits at $64.26, up from $62.10 three months ago. Notably, Stephens raised its target from $60 to $69 in early December, Mizuho lifted its view from $60 to $68, and UBS boosted its target from $67 to $76. These upward revisions highlight growing bullishness around EQT’s reserve replacement and takeaway capacity expansions.

In its most recent quarter, EQT delivered $0.52 in adjusted EPS, beating consensus by $0.02, and reported revenue of $1.75 billion, up 52.6% year-over-year. The company’s return on equity reached 6.9%, with a net margin exceeding 22%. EQT’s debt-to-equity ratio remains conservative at 0.29, while free cash flow surpassed $800 million, supporting planned capex of $1.4 billion for the year and sustaining a disciplined dividend policy.

Hedge funds now own over 90% of EQT’s outstanding shares, with recent new stakes by Caxton Associates and Essex Savings Bank totaling roughly $469 million combined. Focus Partners Wealth and Farther Finance Advisors each increased holdings by around 9% in the first half of 2025. Meanwhile, EVP J.E.B. Bolen sold 1,422 shares in late October, reducing his personal stake by 2.0% to fund other ventures. Insider ownership remains below 1%, aligning management incentives with shareholder returns.