Equinor: Jefferies downgrades stock
(CercleFinance.com) - Jefferies has downgraded its rating on Equinor shares to "hold" (from "buy"), while maintaining its target price at 320 Norwegian kronor, even though the stock remains "the most direct way to gain exposure to the tight global gas market".
"However, consensus CFFO estimates and valuation imply already gas prices above strip levels while we see near-term downside if the gas payment dispute between the EU and Russia is resolved," the broker said.
Equinor shares are currently flat.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"However, consensus CFFO estimates and valuation imply already gas prices above strip levels while we see near-term downside if the gas payment dispute between the EU and Russia is resolved," the broker said.
Equinor shares are currently flat.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.