RBC Capital Market analyst Biraj Borkhataria has upgraded Equinor ASA (NYSE:EQNR) to Outperform from Sector Perform at a price target of NOK390.00. The analyst believes that the company has underperformed its peers YTD with European gas prices returning to the long-term trend from unusually high levels in 2022. Borkhataria expects a 2024 DPS of $3.68, 57% ahead of consensus and thinks investors are comfortable with 2023 distributions and focus is likely to shift to 2024. EQNR shares are trading up 5.1% at $32.44 on the last check Wednesday.