03:08 AM EDT, 04/23/2026 (MT Newswires) -- RBC Capital Markets updated its model for Equinor (EQNR.OL) to reflect the Norwegian oil and gas company's trading update and the research firm's higher commodity price forecast.

"EQNR's trading update pointed to strong crude premiums in Norway, in line with recent data we have seen. Alongside this, the company guided to stronger midstream results across European and US gas, as well as oil trading,"analysts said Wednesday. "We also update our estimates for RBC's latest commodity price deck, which drives upside to our estimates over 2026-30."

As such, the research firm revised its first-quarter adjusted net income estimate to $2.64 billion from $2.68 billion. For full-year 2026 to 2028, adjusted net income forecasts were raised by 10.8%, 12.3%, and 21.2%, respectively, while EPS projections were lifted 11.8%, 13.4%, and 22.5%.

The underperform-rated stock's price target of 380 Norwegian kroner was reiterated.