花旗:因油價下跌下調石油股評級 視中石化(0386.HK)為首選
花旗發表研究報告指出,考慮到油價暴跌,決定下調中石油(0857.HK)投資評級至“沽售”,又將中海油(0883.HK)評級降至“中性”,但認為中石化(0386.HK)是中資石油股首選,因為低油價或提高其煉油毛利率。
花旗已將中石化H股目標價下調7%至3.9港元,A股目標價調低5%至3.6元人民幣,中石油H股目標價亦下調51%至2.2港元,A股目標價下調33%至4.2元人民幣;中海油目標價下調35%至9.3港元。
花旗報告説,假設布倫特油價為每桶43美元,中海油仍將保持盈利,而中石油將因其較高的綜合成本和較低的城市門站價格而難以實現收支平衡。花旗已將中石油今年的盈利預測大幅下調72%,中海油盈測降43%,而中石化亦下調20%。
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