(CercleFinance.com) – Jefferies downgrades its recommendation on Equinor from ‘buy’ to ‘hold’, while leaving its price target unchanged at 320 Norwegian kroner, even if the title remains, according to him, ‘the most direct way to get’ exposure to the tight global gas market’.
‘However, CFFO’s consensus estimates and valuation already imply gas prices above strip levels as we see a near-term decline if the gas payment dispute between the EU and Russia is resolved. ‘, estimates the broker.
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