(News Bulletin 247) – RBC raised its opinion on Equinor on Wednesday, now posting an ‘outperformance’ opinion on the stock, against ‘performance in line with the sector’ so far.
The Canadian broker points out that the stock has underperformed its main peers since the start of the year due to the normalization of European gas prices from their exceptionally high levels of 2022.
The broker stresses, however, that the strength of the group’s balance sheet, as well as its cash position, should enable it to maintain its shareholder remuneration policy next year at the same levels as this year.
This prospect means, according to its calculations, that the company should redistribute to its shareholders the equivalent of almost 40% of its market capitalization over the period 2023-2024.
Its target price remains unchanged at 390 crowns.
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