Equinor downgraded to Sell from Buy at Redburn Atlantic

Redburn Atlantic downgraded Equinor (EQNR) to Sell from Buy with a price target of NOK 230, down from NOK 330. The oil market was looking “increasingly precarious” even prior to the announcement of widespread U.S. tariffs on April 2, the analyst tells investors in a research note. The firm says that due to spare capacity combined with a deteriorating demand outlook, it now expects the market to be oversupplied. Redburn sees oil prices falling below $60 per barrel by year-end. This leads it to cut forecasts and downgrade Equinor and Chevron to Sell, and Eni to Neutral.