You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》瑞信料油價明年持續復甦 中資油股首選中海油(00883.HK)
阿思達克 10-06 14:34
瑞信發表報告指,由於預期原油庫存於明年年底可回復至疫情前水平,估計明年油價將逐步復甦,布蘭特油價預測料由明年首季的每桶45美元,至明年第四季進一步上升至每桶55美元。該行料布蘭特油價於今明兩年預測為每桶各42美元及50美元。

於中資三大油企中,瑞信首選為中海油(00883.HK),其次為中石油(00857.HK),最後為中石化(00386.HK),選股偏好與該行對油價的積極看法一致。

該行表示,中海油於油價處每桶約40美元的環境中可有最強勁的盈利勢頭,且其中旗下離岸業務的產量增長亦為三大中資油企中最高,今年第二季錄按年增長11%。該行維持中海油「跑贏大市」評級,目標價12元。

瑞信提到,中石油公布向國家管網公司出售管道資產,公司已一如承諾於今年上半年宣派特別股息,因公司可從交易獲得1,190億元人民幣的現金,該行預計中石油在今年將會再派特息,以目前股價計算,其股息收益率達9%,維持中石油「跑贏大市」評級及目標價3.8元。

該行認為,隨著煉油供需動態持續惡化,中石化及其他亞洲煉油企業將繼續受壓,雖然預期中石化今年下半年的盈利將有改善,但市場對公司較高預期,亦代表市場潛在下調對其盈利預測,會繼續對其股價構成壓力,而該行維持中石化「中性」評級及目標價3.7元。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account