1313 GMT - Equinor's decision to become a significant shareholder in Orsted is an important signal from the perspective of Orsted's equity story, Bank of America Securities analysts write. "In our view, it demonstrates that Equinor not only believes in the long-term outlook for offshore wind as an industry but also has faith in Orsted's current management team and execution capability." The latter is particularly meaningful in the context of the challenges Orsted has experienced over the last two years, they say. Following the acquisition and reflecting Equinor's third quarter trading statement, the bank revises its estimates, with its net income estimates now 4% below Visible Alpha consensus in 2024, over 5% ahead of consensus for 2025 and over 18% ahead for 2026. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
October 08, 2024 09:13 ET (13:13 GMT)
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