《大行报告》大和降中海油(00883.HK)评级至「跑输大市」 目标价至下调至9.9元
大和发表报告指,在俄罗斯拒绝OPEC+(OPEC(油组)及其夥伴国)减产协议後,布兰特油价於3月6日跌至每桶36美元水平,相信俄罗斯与OPEC+的分歧,将导致其他OPEC+成员将石油产量正常化,破坏供需平衡,导致油价持续低迷。该行下调对布兰特期油价格今明两年预测,由原来预计处每桶58至64美元,下调至今年处每桶45美元,明年处每桶50美元。该行认为,俄罗斯拒绝减产反映该国通过将油价保持在低於盈亏平衡点,以破坏美国页岩气生产的决心超乎预期,由於今年至2022年为美国高收益能源债务再融资计划的高峰,大和现时预计油价将疲弱更长时间。大和下调对中海油(00883.HK)股份评级,由「持有」降至「跑输大市」,下调估值基础,由未来12个月预测市帐率1倍下调至0.85倍,目标价相应由11.8元降至9.9元,并下调集团今明两年每股盈测介乎39%至48%,以反映油价预测下调。
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