Deutsche Bank analyst James Hubbard upgraded Equinor to Buy from Hold with a price target of NOK 347, down from NOK 375. The analyst expects tightening oil markets in the second half of 2023. The firm’s revised Brent deck has a rise to an average of $85 per barrel in Q4, "with upside risks dominating," the analyst tells investors in a research note. It says the sector is "still inexpensive" and upgraded Equinor.
Published first on TheFly
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