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里昂升中海油(0883.HK)目标价至16.3港元重申“买入”评级
格隆汇 07-19 11:03
里昂发表报告指,全球原油市场再平衡及产量稳定增长,料奠定中海油(0883.HK) 未来三年持续改善盈利的基础。虽然原油价格走低,但集团在产量温和上升及严格成本控制的背景下,今年上半年的纯利料可按年上升4.6%至266亿元人民币。
该行表示,中海油有三个催化剂可推动其股价表现跑赢市场,支持其2018至2021年每股盈利 年均复合增长料达8%;催化剂包括2018至2021年产量年均复合增长料达5%、原油市场复苏,及投资资本的回报改善。
里昂上调对中海油目标价,以现金流贴现率计,由16港元升至16.3港元,评级维持“ 买入 ”。此外,该行又上调中海油今明两年的每股盈测分别5.1%及4.5%,以反映其具纪律的成本控制。
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