Why Equinor Stock Tumbled by 5% on Tuesday
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Equinor's stock fell nearly 5% on Tuesday following a downgrade from analyst Christyan Malek of JPMorgan Chase, who cut the price target by 10 Norwegian kroner to 250 kroner while maintaining an underweight recommendation. This decline outpaced the S&P 500's 2.2% drop. Another analyst, Martijn Rats from Morgan Stanley, similarly downgraded Equinor's outlook, reducing his target price to 270 kroner from 305 kroner, citing concerns over the adequacy of its projected dividend growth.
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