Goldman Sachs analyst Michelle Della Vigna upgraded Equinor to Neutral from Sell with a price target of NOK 390, up from NOK 370. The upgrade follows the 30% relative underperformance over the last three months vs. the European Integrated Oils, bringing its valuation in line with the sector average, as well as upside risk to European gas prices from current levels, the analyst tells investors in a research note. Equinor has structurally improved its cost positioning and has revitalized its project portfolio with some of the lowest cost developments in the industry, Goldman Sachs says.
Published first on TheFly
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