Berenberg Lifts Equinor's Price Target on Strong European Gas Prices
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Berenberg has raised its price target for Equinor from 325 to 340 Norwegian kroner, citing strong European gas prices and expectations for robust financial performance in 2025. The firm anticipates significant cash flow generation and potential upgrades to consensus estimates, along with increased buyback capacity. Additionally, Equinor's production growth targets have been boosted while capital expenditure for renewables has been reduced, likely leading to higher free cash flow. Berenberg maintains a buy rating on the stock.
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