TD Cowen Raises Equinor (EQNR) Price Target Ahead of Capital Markets Day

With an annual dividend yield of 4.05%, Equinor ASA (NYSE:EQNR) is included among the 10 High Yield Crude Oil Stocks to Buy Now.

TD Cowen Raises Equinor (EQNR) Price Target Ahead of Capital Markets Day

Equinor ASA (NYSE:EQNR) is an international energy company headquartered in Norway, with over 25,000 employees in around 20 countries worldwide.

On June 5, TD Cowen analyst Jason Gabelman raised the firm’s price target on Equinor ASA (NYSE:EQNR) from $40 to $42, while maintaining a ‘Hold’ rating on the shares. The target boost reflects an upside of 12% from the current levels.

TD Cowen has high expectations for Equinor’s upcoming Capital Markets Day on June 16. The analyst is projecting the company to raise its buyback program from $1.5 billion to $4 billion for 2026, with a potential for a buyback guide also for 2027.

The optimism comes after the Norwegian energy giant delivered its highest production ever of more than 2.3 million barrels per day in the first quarter, up 9% from the same period last year. The high production, coupled with the soaring prices, allowed the company to deliver an adjusted operating income of $9.8 billion and net income of $3.1 billion.

In February, Equinor ASA (NYSE:EQNR) guided towards a cash flow from operations of $16 billion after tax in 2026. However, the company revealed in May that this number could be around $8 billion higher, assuming that Brent averages $85 per barrel and European gas prices of $13 per MBtu this year.

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.

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