Bank of America Securities analyst Christopher Kuplent reiterated a Buy rating on Equinor ASA today and set a price target of NOK280.00.
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Christopher Kuplent has given his Buy rating due to a combination of factors including Equinor ASA’s strong balance sheet and attractive cash return potential. Despite a slight miss in the 2Q25 earnings and cash flow from operations due to higher taxes and weaker cash conversion, Kuplent remains optimistic about the company’s financial health and future prospects.
Equinor’s ability to maintain a low net debt level compared to its peers and its competitive cash return yields, which are expected to remain above 10%, are key reasons for the Buy rating. Additionally, Kuplent notes that Equinor’s free cash flow surplus and its sensitivity to European gas prices present a favorable risk/reward scenario, especially heading into the winter months. These factors, combined with a strong balance sheet and a projected free cash flow yield of around 7% by 2027, support the positive outlook for Equinor’s stock.