EQNR - Equinor Downgraded: Analyst Highlights Faster Balance Sheet Re-leveraging And Modest 2024 Distributions | Benzinga
RBC Capital Markets analyst Biraj Borkhataria downgraded Equinor ASA (NYSE: EQNR) to Sector Perform from Outperform and cut the price target to NOK390 from NOK350.
The analyst says that EQNR looks set to re-lever its balance sheet faster than expected, suggesting more modest than anticipated 2024 distributions amid a subdued macro outlook and a lower commodity deck.
Also Read: Energy Giant Equinor's Q3 Earnings: Revenue & Profits Tumble Significantly On Weak Gas Production
Notably, Borkhataria updated the oil deck to $82.5/bbl ...