瑞銀:重申中海油(0883.HK)為三大中資石油股首選 目標價15.5港元
瑞銀髮表報告表示,重申中海油(0883.HK)
為該行對三大中資石油股中的首選股,因公司成本較低、產能增長、兼且其自由現金流量、派息紀錄良好,相信其防守性可勝同業,該行予中海油“
買入
”投資評級,基本情境目標價15.5港元。
就內地近期爆發新型冠狀病毒,內地主要城市的石油需求難免受到影響,國際原油價格近周急速下滑,回顧2003年沙士期間內地交通燃油需求按年跌8%,並需要數月回覆正常,指目前油價走勢仍需視乎今次疫情如何能受到控制。
在該行料受疫情的下行情境預測(對比基本情境預測),布蘭特期油處每桶50美元預測下,料中海油、中石油(0857.HK)
及中石化(0386.HK)
今年每股盈利預測將各下跌31、57%及59%。
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