The electricity demand due to the growing need for data centers will increase natural gas demand. In the short term, the cold wave is already doing that. Bernstein upgraded EQT Corporation (EQT) and Devon Energy (DVN).
Reading Time: 2 minutes
A cold wave at the start of the year caused oil prices to rise. US natural gas futures also moved on Wednesday at 3.95 USD per MMBtu, nearing a two-year high. Energy sector stocks even topped the sector list on a monthly basis. Bernstein upgraded both the stock of EQT Corporation (EQT) and Devon Energy (DVN) from 'Market Perform' to 'Outperform' today. The price targets of 73 USD and 45 USD imply upside potentials of 45% and 20%, respectively. EQT is an energy company specializing in the production of oil and natural gas. The core business...
Read this article now with a free account.
Your benefits:
- Every month, you can read 5 articles from the premium section for free.
- Monthly 2 trial issues of the Trader newspaper for free.
- Create a personal watchlist with an overview of news about your stock.
