《大行報告》中金料中海油(00883.HK)單位成本再壓減空間有限 未來五年將進入增產周期
中金發表報告表示,中海油(00883.HK)今年初下調全年資本開支預測,由850億至950億元人民幣,降至750億至850億元人民幣,主因未來幾年資本開支週期由下而上驅動,而過去幾年成本大幅削減,且內地的項目成本處於低位所帶動。該行認為,公司的單位成本繼續壓減的空間有限,未來五年將進入增產周期。
報告補充,雖然預期中海油未來幾年的產能增量主要來自國內市場,但亦不排除在低油價環境下公司進行海外併購。該行維持其盈利預測、目標價10.3港元及「跑贏行業」評級不變。
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