Mizuho reinstates coverage on EQT Corp with 'outperform', Jefferies raises PT

Mizuho reinstates coverage on U.S.-based natural gas company EQT Corp EQT.N with "outperform" rating

New price target of $66 represents a 17.5% upside to the stock's last close

Brokerage says expansion of U.S. LNG exports, limited supply additions, and eventual increase in demand for power from AI data centers still support higher gas prices over the next 12-18 months

"As the second-largest producer of gas and given its low break-even price, EQT is still one of the key stocks that benefits from these trends" - Mizuho

Jefferies raises PT to $70 from $60; implying a 24.6% upside to stock's last close

Brokerage raises PT on EQT's acquisition of upstream and midstream assets of Olympus Energy for $1.8 billion to expand its presence in the natural gas-rich Marcellus region in the U.S.

Including sessions moves, stock up 18.1% YTD