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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