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《大行報告》瑞銀升中石油(00857.HK)評級至「買入」 目標價3.9元
阿思達克 08-30 09:46
瑞銀發表研究報告,指中石油(00857.HK)H股股價自近期高位累跌約20%,但在投資者預期下降的情況下,再下行的空間料更有限,投資評級由「中性」升至「買入」,目標價維持3.9元。 該行指,現時市場正以油價每桶約50美元為中石油計價,認為市場對中石油已過度看淡,現時瑞銀預期2022年布蘭特期油每桶62美元,布油每一美元的升價,將為該行對中石油盈測帶來4%的上行。報告稱,對投資者而言,中石油對原油價格有強勁經營槓桿,同時由於內地推進「煤改氣」,天然氣有核心角色,料其綜合氣體業務可從中受惠。 瑞銀稱,中石油次季純利勝該行預期5%,上調今年每股盈測2%,明後兩年分別降2%及3%,以反映在折舊率預測下調下,該行上調其勘探與生產業務盈測;惟在進口液化天然氣(LNG)價格預測上調下,並擴大中石油未來進口天然氣虧損預測。
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