Redburn Atlantic upgraded Equinor (EQNR) to Buy from Neutral with a price target of NOK 300, up from NOK 290. The firm says that despite significant liquified natural gas capacity additions later in the decade, there are only a handful of projects ramping up in 2025, so Europe will have to compete with Asia for cargoes. Redburn does not expect any prospective Ukraine/Russia peace deal to result in the immediate return of Russian gas to Europe. Gas prices have already risen, the near-term risk/reward skew to the upside, and Equinor is the clear way to play this theme, the analyst tells investors in a research note.
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Read More on EQNR:
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- Equinor upgraded to Buy from Neutral at Redburn Atlantic
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
