Equinor price target raised to NOK 305 from NOK 300 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Equinor to NOK 305 from NOK 300 and keeps an Equal Weight rating on the shares. In a note on the European Energy sector, the firm said the sector typically performs well when three factors come together – rising oil & gas prices; rising inflation expectations; and rising interest rates. However, at the moment, none of these factors are in place, the analyst noted, adding that Q2 earnings for European Energy stocks are “unlikely to surprise positively.”