Morgan Stanley Rates EQT buy, $68 Price Target

Analyst Devin McDermott has reiterated a buy rating on EQT Corporation, pointing to room for growth as shares trade near $52.77, a 28.86% upside from the current price.

By EarningsIQ Research Desk · Published Jun 29, 2026, 2:03 PM EDT · Updated Jul 1, 2026, 3:01 PM EDT

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Morgan Stanley rated EQT Corporation ($EQT) "buy" with a $68 price target on June 29, 2026.

Since the rating, $EQT is down 0.6% after 1 week, up 1.1% after 1 month and up 4.8% to date (from the $51.84 close on Jun 29, 2026).

EQT EQT Corporation

$54.30 +2.47% year to date

Daily close · Oct 16, 2026

Key Points

Morgan Stanley analyst Devin McDermott reiterated a buy rating on EQT Corporation on June 29, 2026, setting a price target of $68.
Morgan Stanley's $68 price target implies 28.86% upside from EQT Corporation's ($EQT) current $52.77 share price.
EQT Corporation shares recently changed hands at $52.77, sitting well below analyst price targets that stretch up to an average mean of $67.54.
Wall Street maintains a strong buy consensus on EQT Corporation with 26 analyst opinions ahead of the company's next earnings report on October 20, 2026.

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Morgan Stanley Affirms Its View on EQT Stock

Morgan Stanley has reaffirmed its positive stance on EQT Corporation NYSE: EQT, with analyst Devin McDermott keeping a buy rating on the shares alongside a $68 price target. The update arrives as the natural gas producer trades at $52.77, giving investors a clear look at how one major Wall Street firm evaluates the company's upside potential compared to where the equity currently changes hands.

Analyst rating track record

Morgan Stanley vs. the S&P 500

YTD return +40.15% hypothetical

All-time return +36.50% S&P 500 +33.97%

vs. S&P 500 +2.53% ahead of the index

Hypothetical returns from Morgan Stanley's disclosed trades, not real profit or advice. How we model this.

12-month forecast

$EQT price target

EQT Corporation daily closes and this analyst's $68 target. Not advice.

Where EQT Stock Trades Today

EQT Corporation shares have moved within a 52-week range spanning from a low of $47.94 up to a high of $68.24. The current price of $52.77 puts the company near the lower half of that yearly band. The stock trades close to its 50-day moving average of $52.85, while its 200-day moving average sits higher at $55.86. The company carries a price-to-earnings ratio of 11.63 and a forward price-to-earnings ratio of 13.14.

Recent Analyst Updates Across Wall Street

Wall Street firms have actively adjusted their outlooks on the natural gas producer through the autumn months. On October 15, 2026, UBS maintained a buy rating while lowering its target from $77 to $76. On the same day, Scotiabank initiated coverage with a sector perform rating and a $54 target, while Mizuho maintained an outperform rating and cut its target from $72 to $68. Earlier in the fall, Jefferies maintained a buy rating with a $73 target on September 29, 2026, and Citigroup maintained a buy rating with a $68 target on September 23, 2026. Stephens & Co. kept an overweight rating and a $71 target on September 17, 2026. UBS previously maintained a buy rating with a $73 target raised to $77 on September 14, 2026, and Morgan Stanley also maintained an overweight rating with a $68 target adjusted to $67 on August 19, 2026.

EQT Corporation Financial Performance

EQT Corporation generated $9.29 billion in revenue over the tracked period, paired with a net margin of 29.18 percent and a return on equity of 11.08 percent. The company reported earnings per share of $4.31 alongside an annual dividend rate of $0.66, which translates to a dividend yield of 1.32 percent and a modest payout ratio of 15.14 percent. Analysts overall hold a consensus recommendation of strong buy for the stock, backed by 26 opinions yielding an average price target of $67.54, with individual estimates ranging from a low of $52.00 up to a high of $81.00.

Exploring the Appalachian Basin Energy Producer

Headquartered in Canonsburg, Pennsylvania, and led by CEO Toby Z. Rice, EQT Corporation focuses on exploring, producing, gathering, and transmitting natural gas, natural gas liquids, and oil. The company primarily serves marketers, utilities, and industrial customers across the Appalachian Basin, while also managing pipeline capacity, risk hedging activities, and propane storage facilities with a team of 1,523 employees.

What to Watch Next for EQT

Investors are tracking the broader natural gas market alongside upcoming corporate milestones, with EQT Corporation's next earnings report scheduled for October 20, 2026, for updated financial results. Market participants will watch whether the stock can bridge the gap toward the $68 analyst target set by Morgan Stanley as winter heating demand approaches.