EQT is Morgan Stanley's Top Pick - Mar 28

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

EQT is Morgan Stanley's Top Pick - Mar 28

Post by dan_s »

Note below from my friends at Morgan Stanley 3-28-2023

"Stay constructive, but selective. With a noisy 4Q results season comfortably
behind us,expectations are now more reasonable for 2023 capex & production.

Looking ahead, deflation could start to become a tailwind for
some US producers by the 2H23- especially if private activity moderates. In a
more uncertain macro environment, we retain our defensive bias and prefer
names with scale, strong balance sheets and differentiated rate of change (HES,
EOG, XOM) and/or outsized buyback capacity (MRO,FANG in the US and SU &
CVE in Canada). Within gas E&Ps, EQT remains our preferred stock.

Very interesting that a "gasser" would be their Top Pick.

We will be publishing an updated profile on FANG this week.
Dan Steffens
Energy Prospectus Group
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