里昂:降中石油(0857.HK)目标价至5港元 评级“买入”
里昂发表研究报告指,中石油(0857.HK)
上半年业绩表现不佳,纯利仅按年升3.6%,因为下游业务疲弱抵销了勘探及生产业务的盈利。天然气及管道业务亦受到进口天然气损失较预期大所拖累。
该行指虽然中石油估值便宜,处于10年低位,但管道公司的不明朗因素限制了中石油股价上升空间。该行将中石油目标价由6港元降至5港元,但重申“
买入
”评级以反映估值因素。
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