Utility Bills Are Soaring. How An Analyst Expects To Capitalize With 40% Returns Into 2023
EQT Corporation (NYSE: EQT ), a Pittsburgh-based natural gas company, is poised to generate significant free cash flows (FCF) next year with a high-end FCF yield at 30%. The BMO Capital Analyst: Phillip Jungwirth upgraded the rating from Market Perform to Outperform and raised the price target from $50 to $65. The EQT Takeaways: Following EQT’s $5.2 billion acquisition of Tug Hill , an oil and gas exploration company, the analyst expects EQT to reach a free cash flow inflection in 2023 as hedges roll off and financial performance reflects improved operating costs, better capital efficiency and lower leverage. Jungwirth expects near- and long-term gas prices to remain elevated, contributing to the rise in price forecast and free cash flow generation. The analyst forecasts EQT''s free cash flow … Full story available on Benzinga.com
Utility Bills Are Soaring. How An Analyst Expects To Capitalize With 40% Returns Into 2023
EQT Corporation (NYSE: EQT ), a Pittsburgh-based natural gas company, is poised to generate significant free cash flows (FCF) next year with a high-end FCF yield at 30%. The BMO Capital Analyst: Phillip Jungwirth upgraded the rating from Market Perform to Outperform and raised the price target from $50 to $65. The EQT Takeaways: Following EQT’s $5.2 billion acquisition of Tug Hill , an oil and gas exploration company, the analyst expects EQT to reach a free cash flow inflection in 2023 as hedges roll off and financial performance reflects improved operating costs, better capital efficiency and lower leverage. Jungwirth expects near- and long-term gas prices to remain elevated, contributing to the rise in price forecast and free cash flow generation. The analyst forecasts EQT''s free cash flow … Full story available on Benzinga.com