- (PLX AI) - Equinor shares rose in early trading in Oslo after Bank of America analysts upgraded the stock to buy from neutral.
- • Price target raised to NOK 425 from NOK 266 at BofA
- • Equinor's projected free cash flow yield of 30% over the next 2 years should allow leading shareholder remuneration while expanding net cash position and investments in the energy transition, Bank of America analysts said
- • A big reason for the upgrade was the increase in European natural gas prices
- • European big oil companies will spend 30% less in capex than in 2014 this year and will enjoy a far richer cash flow harvest from higher oil and gas prices, while investing in low-carbon value creation that is not yet reflected in share prices, BofA said
© 2022 PLX AI
