Redburn Atlantic has revised its rating for Equinor (EQNR, Financial) from Buy to Sell, setting a new price target of NOK 230, reduced from NOK 330. The decision comes as the firm expresses concerns about the oil market, which it describes as increasingly unstable.
In a recent analysis, Redburn Atlantic highlights the looming challenges facing the oil sector, exacerbated by the introduction of widespread U.S. tariffs. The firm also points to a combination of spare capacity and a weakening demand outlook, suggesting that the market could soon experience a supply glut.
With expectations that oil prices may drop below $60 per barrel by the end of the year, Redburn Atlantic has adjusted its forecasts accordingly. Alongside Equinor, the firm has also downgraded Chevron's rating to Sell, and shifted Eni's rating to Neutral.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for Equinor ASA (EQNR, Financial) is $27.05 with a high estimate of $31.29 and a low estimate of $22.00. The average target implies an upside of 16.39% from the current price of $23.24. More detailed estimate data can be found on the Equinor ASA (EQNR) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, Equinor ASA's (EQNR, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Equinor ASA (EQNR, Financial) in one year is $24.24, suggesting a upside of 4.3% from the current price of $23.24. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Equinor ASA (EQNR) Summary page.
