Price Targets Cut to $68 and $63 While EQT Corporation Eyes $7.5B Debt Goal
Stephens cut its price target on EQT Corporation to $68 from $69, citing $2 million drilling cost cuts per Utica well as it aims for a $7.5 billion net debt target by early Q1 2026. Scotiabank lowered its target to $63, citing U.S. and Canadian supply deficits that boost gas prices.
1. Analysts Cut Price Targets
Stephens trimmed its price target on EQT Corporation to $68 from $69 while maintaining an Overweight rating, and Scotiabank cut its target to $63 with a Sector Perform stance. These revisions reflect modest adjustments to near-term valuation assumptions amid unchanged operational forecasts.
2. Net Debt Goal and Drilling Cost Savings
EQT Corporation is focused on reducing net debt to $7.5 billion by early Q1 2026. Stephens highlighted that $2 million in drilling cost savings per Utica well versus the prior quarter will accelerate free cash flow and debt paydown.
3. Natural Gas Market Outlook
Scotiabank pointed to persistent supply deficits in the United States and Western Canada as support for higher natural gas prices. This backdrop underpins its view that related stocks, including EQT Corporation, could benefit from tightening markets over the next year.