Barclays downgraded Equinor (EQNR) to Equal Weight from Overweight with an unchanged price target of NOK 325. The firm believes European energy is set for a material up-cycle in oil prices, as non-OPEC supply growth slows significantly and continued strength in demand reduces OPEC+ spare capacity rapidly. Investors should use the next 12 months to build positions in key names, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EQNR:
- Equinor Resumes Empire Wind Project Construction After Stop Work Order Lifted
- Equinor ASA Downgraded to Hold Amid Concerns Over Increased Leverage and Reduced Buyback Outlook
- Equinor downgraded to Hold from Buy at Berenberg
- Equinor downgraded to Reduce from Hold at Kepler Cheuvreux
- Largest borrow rate increases among liquid names