- The $7 billion Empire Wind project by Equinor (EQNR, Financial) near New York is paused due to environmental review issues.
- Analysts see a potential 15.44% upside with an average price target of $27.06 for Equinor.
- Equinor is considered to "Outperform" with a GF Value suggesting a 22.01% upside.
Construction of Equinor's (EQNR) Empire Wind project, a major $7 billion initiative off the coast of New York, has hit a significant roadblock. The suspension, announced by Interior Secretary Burgum, is due to the Biden administration's reportedly insufficient environmental analysis. Aiming to supply energy to 500,000 homes by 2027, the project's future now faces uncertainties, especially regarding the expected $2 billion in tax credits.
Wall Street Analysts' Projections
According to data from four analysts, Equinor ASA (EQNR, Financial) is forecast to reach an average price target of $27.06 over the next year, with expectations ranging from a low of $22.00 to a high of $31.34. This suggests a possible upside of 15.44% from its current price of $23.44. For a deeper insight into these projections, visit the Equinor ASA (EQNR) Forecast page.
The consensus among four brokerage firms gives Equinor ASA (EQNR, Financial) an average recommendation of 2.0, indicating an "Outperform" status. This rating is on a scale from 1 to 5, where 1 is a Strong Buy and 5 is a Sell.
Understanding Equinor's GF Value
According to GuruFocus metrics, the estimated GF Value for Equinor ASA (EQNR, Financial) over the next year is $28.60. This estimate suggests a significant 22.01% upside from its current trading price of $23.44. GuruFocus calculates GF Value by considering historical trading multiples, past business growth, and future business performance projections. For more comprehensive insights, please visit the Equinor ASA (EQNR) Summary page.
