Societe Generale analyst Yoann Charenton upgraded Equinor to Buy from Hold with a price target of NOK 320, down from NOK 325, arguing that the selloff in the shares has pushed free cash flow and distribution yields "into attractive territory." The firm has cut its 2023 EPS estimate by about 16% as it lowered its 2023 European hub gas price assumption by 25% and its 2023 Henry Hub input by 27%, but it is sticking with its longer-dated input estimates, the analyst noted.
Published first on TheFly
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