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《大行報告》里昂降中海油(00883.HK)評級至「跑贏大市」 下調目標價至9.5元
阿思達克 02-05 15:13
里昂發表研究報告指中海油(00883.HK)《2021年戰略指引》以新的重點再次強調其未來數年的中長期增長、卓越運營和低碳發展原則。雖然面對前所未有的挑戰,公司去年仍取得顯著的產量增長及嚴格的成本控制。然而,制裁風險不斷升級,危及其中長期增長步伐。將其目標價由原來的11元下調至9.5元,投資評級由原來的「買入」調低至「跑贏大市」。

該行指,中海油加強其增長戰略,2021年的產量目標為5.9億至6億桶油當量,而2023年則為6.4億至6.5億桶油當量,而去年的預期產出為5.28億桶油當量,意味2020至2023年的年複合增長率為6.6%至7.2%。公司2021年的資本開支預算為900億至1,000億元人民幣,戰略重點放在國內項目上。管理層亦計劃加強天然氣資源配置,將2025年將天然氣比例提高到總產量的30%。

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