Equinor Goes Wind Shopping, Bags Hefty 9.8% Stake In Ørsted For $2.5B
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 07 2024
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Source: Benzinga
Equinor's Investment in Ørsted: Equinor ASA has acquired 41.19 million shares, or 9.8%, of Ørsted A/S for $2.5 billion, becoming the second-largest shareholder after the Danish State, with plans to increase ownership to 10% pending regulatory approvals.
Market Reaction and Future Plans: Following the acquisition, Equinor's shares fell by 3.52% to $26.17, as the company continues to focus on value-driven growth in renewables and plans significant investments in Norwegian offshore oil and gas projects until 2035.
Analyst Views on GINX
Wall Street analysts forecast GINX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GINX is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
