BofA Adjusts PT on Equinor ASA (EQNR) to NOK 345 From NOK 260 – Here’s Why

Equinor ASA (NYSE:EQNR) is one of the most undervalued energy stocks to buy now. On March 13, BofA adjusted the price target on Equinor ASA (NYSE:EQNR) to NOK 345 from NOK 260 while maintaining a Neutral rating on the shares. Highlighting risks of a prolonged shutdown of the Strait of Hormuz, the firm stated that its commodities research team lifted oil and gas price forecasts across 2026-27, driving higher price targets across the stocks under its coverage in the European oil and gas sector.

Marathon Petroleum (MPC) Beats Forecasts in Q4 Results

In another development, Equinor ASA (NYSE:EQNR) announced on March 11 that it entered into a bio-methanol agreement with Wallenius Wilhelmsen, a market leader in roll‑on/roll‑off (RoRo) shipping and vehicle logistics. Bio-methanol from Equinor ASA (NYSE:EQNR) will soon fuel ships bringing cars and machinery from points of production to markets, with Wallenius Wilhelmsen using the bio‑methanol as bunker fuel for its upcoming dual‑fuel methanol vessels.

The company further stated that Wallenius Wilhelmsen will receive the bio-methanol bunkers at the Ports of Zeebrugge and Antwerp, with supplies commencing in late 2026 and positioning the partnership within key European maritime hubs.

​Equinor ASA (NYSE:EQNR) explores, transports, produces, refines, and markets petroleum and petroleum-derived products. The company’s operations are divided into the following segments: Exploration and Production Norway, Exploration and Production International, Exploration and Production USA, Marketing, Midstream, Processing, Renewables, and Other.

While we acknowledge the risk and potential of EQNR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EQNR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.