Equinor: Berenberg maintains 'hold' rating

(CercleFinance.com) - Berenberg maintains its "hold" rating on Equinor, with a target price of 200 Norwegian kronor, citing "a year of transition" for the Norwegian oil group.


In a note to clients, the German broker says that it is still concerned about Equinor's relatively weak operational momentum in 2019, and recommends investors to take a "pause" on the name.

Consensus estimates are optimistic, the broker adds, saying that there is further downside to consensus EPS forecasts.

The main risk is further weakness in European gas prices, which in its view is not fully reflected in consensus estimates, Berenberg says.

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