AlphaValue/Baader Europe Raises EPS Forecasts for Equinor on Higher Commodity Prices

03:00 AM EDT, 10/23/2026 (MT Newswires) -- AlphaValue/Baader Europe lifted its adjusted EPS projections for Equinor (EQNR.OL) to reflect rising oil and gas prices. "Brent moves to USD 95/bbl in 2026 (from USD 91), USD 80/bbl in 2027 (from USD 78) and USD 67/bbl in 2028 (from USD 65). European gas moves to EUR 58/MWh in 2026 (from EUR 57) and EUR 63/MWh in 2027 (from EUR 53), and is unchanged at EUR 45/MWh in 2028. Gas matters more than oil for Equinor: with gas higher in 2027 than in 2026, 2027 EBIT holds close to 2026, even though Brent falls 16%," according to a Thursday note. As such, the research firm raised its full-year 2026 and 2027 adjusted EPS estimates to $6.34 and $5.78, respectively, from $5.74 and $5.15. Analysts noted that the Norwegian energy company's effective tax rate is projected to increase to 70% in 2027 from 68% in 2026, as Norway, taxed at 78%, is anticipated to further impact group profit. AlphaValue/Baader Europe rates the stock at reduce, with a price target of 407 Norwegian kroner.