Zacks Investment Research downgraded shares of EQT Corporation (EQT) from OUTPERFORM to NEUTRAL on July 02, 2014, with a target price of $128.00.
EQT Corporation posted stellar first quarter 2014 results, buoyed by higher production volumes, gathering & processing volumes and prices. The company expects to increase its natural gas production by 24% in 2014. We believe that EQT will gain significant traction going forward, based on improving industry swings, high productivity gains, and accelerated exploration and production growth. We appreciate the company's focus on the development of the Marcellus shale to enhance capital efficiency. The low cost producer should perform better than other industry players, so we have upgraded our rating to Outperform from Neutral.
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