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大摩:重申中海油(0883.HK)“增持”評級 目標價16.55港元
格隆匯 01-14 12:46
摩根士丹利發表研究報告,相信中海油(0883.HK) 的投資者擔心資本開支預算過高,但若果能夠帶動更多的產能,相信可為股東創造價值。公司儲量替代率(RRR)目標為120%,反映儲備潛力前景樂觀,重申“ 增持 ”評級,目標價16.55港元。
該行指,公司上調生產目標是符預期,認為不但可以在目前油價上升的環境中獲利,更可以增加股東回報,雖然明年的資本開支增長較高,但管理層指會盡力為投資尋求正回報。
該行又指,公司的資本開支增加,亦為中海油服(2883.HK) 帶來正面影響,雖然目前估值(市賬率1.4倍)不便宜,但盈利持續增長可帶動重估。

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