Morgan Stanley Cuts Equinor Price Target to NOK 376 After Q1

Morgan Stanley Lowers Equinor Price Target After Q1 Results

Morgan Stanley reduced its price target on Equinor ASA (NYSE:EQNR) from NOK 388 to NOK 376 on May 12, following the company's fiscal first-quarter 2026 earnings release. The bank maintained its Equal Weight rating on the shares.

Rating Change

• Previous Price Target: NOK 388
• New Price Target: NOK 376
• Rating: Equal Weight (Neutral)

Analyst Rationale

The price target cut reflects a more cautious assessment of Equinor's Q1 performance, which showed some operational or financial challenges prompting the revision. The report did not specify detailed reasons for the reduction but came as part of a broader sector review.

Context

Equinor is considered one of the best commodity stocks to buy for the supercycle, according to Morgan Stanley. However, the lowered target suggests caution on current valuations. No similar changes from other analysts have been reported.

What to Make of It

The adjustment indicates that Morgan Stanley still views Equinor as a solid long-term investment but believes the stock may be slightly overvalued after the latest results. Investors should monitor upcoming quarterly reports for further performance insights.