大和下调中海油(0883.HK)评级至“持有”削目标价至13.8港元
大和发表报告表示,下调中海油(0883.HK)
投资评级,由原来“
跑赢大市
”降至“
持有
”,将目标价由15.7港元降至13.8港元,此相当预测市帐率
降至1.17倍(此前予1.3倍),因反映对国际油价疲弱走势的预期。
该行指,布兰特期油自今年4月见顶以来已累跌14%,中海油股价同期亦跌12%,基于全球贸易压力影响石油需求转弱,油组已决定延长减产协议。而该行下调对布兰特期油今年价格预测,由原来每桶68美元降至66美元,并下调对2020及2021年油价预测分别至每桶67美元及68美元。
大和料中海油全年纯利按年升3%,主要是产能增长及生产成本稳定,但基于下调对国际油价预测,决定下调对中海油2019年至2021年每股盈利
预测5%至6%。
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