Equinor Positioned To Profit Amidst Volatility: Analyst Forecasts 2024 DPS 57% Above Consensus
Portfolio Pulse from Lekha Gupta
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.
August 09, 2023 | 6:18 pm
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Equinor ASA has been upgraded to Outperform from Sector Perform by RBC Capital Market analyst Biraj Borkhataria. The analyst expects a 2024 DPS of $3.68, 57% ahead of consensus. EQNR shares are trading up 5.1% at $32.44.
The upgrade by RBC Capital Market analyst Biraj Borkhataria is a positive signal for the company. The analyst's forecast of a 2024 DPS 57% ahead of consensus indicates strong future performance. This news is likely to boost investor confidence and could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100