JPMorgan analyst Matthew Lofting downgraded Equinor (EQNR) to Neutral from Overweight with a price target of NOK 270, down from NOK 320. In response to heightened concerns on tariffs and OPEC’s reaction function, the firm assessed European oil metrics at $60 per barre oil and remarked base estimates lower to forward strips. It downgrade Equinor saying the company’s “re-gearing risks rise at the wrong time.” Equinor now exhibits the sector’s greatest negative rate of change in gearing to end 2026, the analyst tells investors in a research note.
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