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《大行報告》中金料中海油(00883.HK)未來半年盈利有望顯著上修 目標價10.3元
阿思達克 02-17 14:32
中金發表研究報告指,中海油(00883.HK)近期股價回升,基本收復去年底事件性風險帶來的衝擊。

該行指,市場預期2021至2022年度中海油的盈利分別為419億及548億元人民幣,相信未來半年盈利將進入顯著的向上修正周期,以布蘭特期油年均價格約60美元計,全年盈利可望達到600億人民幣以上。

中海油今年資本開支定為900億至1,000億元人民幣,較2020年的795億元人民幣提升13%至26%,超出該行和市場的預期。中金預期,可支持產量至2025年度每日200萬桶當量。中海油亦加大對中國近海投入佔比,佔今年資本支出72%,高於過去幾年平均65%左右的水平,預計未來產量增量主力仍是來自中國南海區域,估計2021至2023年產量指引將提升,復合增長幅度料超過7%。

惟中金指出,雖然過去60個工作天主要外資券商已淨賣出超過80億股,拋售風險基本解除,但目前股價仍有較大的折扣,預期油價每上漲1%,盈利上行空間為2%,維持盈利預測及「跑贏行業」評級,目標價10.3元不變。

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