Citi raised the firm’s price target on Equinor (EQNR) to NOK 260 from NOK 220 and keeps a Sell rating on the shares. The firm believes the Middle East conflict will bring a lowering cost of equity for oil and gas stocks, which results in increased price targets across the board. The war could create “structural re-engagement” of the investment community in the oil and gas sector, the analyst tells investors in a research note. Citi’s top picks are TotalEnergies, ConocoPhillips, and BP.
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Read More on EQNR:
- Equinor price target raised to $40 from $37 at TD Cowen
- Equinor downgraded to Hold from Buy at Pareto
- Morgan Stanley shuffles EU energy ratings with three upgrades, two downgrades
- Equinor upgraded to Equal Weight from Underweight at Morgan Stanley
- Equinor Stock (EQNR) Stays Undervalued as Market Overlooks Opportunity