You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
大和:下調中石油(0857.HK)目標價至5港元 重申“買入”評級
格隆匯 11-18 14:02

大和發表研究報告指,中石油(0857.HK)管理層透露對成立國家油氣管網公司暫未有確實時間表,但認為分拆的估值合理,料市帳率將高於1倍。而公司計劃通過銷售更多市場化氣量價格來控制進口天然氣的虧損,重申對其“買入”評級,但將目標價由5.75港元,下調13%至5港元。

大和認為,成立國家油氣管網公司將可進一步實現油氣行業市場化,有利行業發展。另外,中石油計劃在不同地區提高冬季天然氣價的談判已進入最後階段,而今年基準城市門站燃氣價格與去年一樣可上調20%,惟目前尚未知道其需求增加幅度。

該行將中石油每股盈利預測下調8-12%,以反映煉化業務毛利下降的預期,以及2019-2021年油價將分別跌至65美元、64美元及65美元的預測。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account