《大行報告》花旗上調中石油(00857.HK)目標價至2.4元 評級「沽售」
花旗發表報告指,中石油(00857.HK)今年上半年業績盈轉虧,由去年同期的盈利284億元人民幣,轉為虧損300億元人民幣。撇除資產減值損失82億元人民幣,上半年核心虧損218億元人民幣。
該行表示,中石油第二季核心虧損一如預期擴大至135億元人民幣,主要是受勘探及開採業務虧損擴大所拖累。雖然上半年錄虧損,但集團中期派息仍按年增加13%至8.7分人民幣,令市場有驚喜,年化之股息收益率達7.2%。由於管道分拆獲得現金,末期派息預期可能更高,屆時或派特別息。
花旗上調中石油股份目標價,由2.3元升至2.4元,由於基本面仍疲弱,評級維持「沽售」。由於將今明兩年油價預測分別由每桶36及56美元,調升至44及57美元,該行上調集團此兩年每股盈利預測,由原來估計今年虧損0.24元人民幣調整至虧損0.11元人民幣,明年由盈利0.17元人民幣升至盈利0.19元人民幣。
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