JPMorgan analyst Christyan Malek downgraded Equinor to Underweight from Neutral with a price target of NOK 290, down from NOK 370. The analyst says the sharp gas correction has widened the 2023 consensus earnings gap for European oil and gas names. Malek is taking a more cautious stance on hub gas geared equities that have also either outperformed in recent months and/or carry Q4 risks.
Published first on TheFly
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