《大行报告》大和上调中石油(00857.HK)目标价至3.3元 评级「跑赢大市」
大和发表报告指,油价走势在未来两个月的能见度更为清晰,布兰特油价在昨日(8日)升至超过每桶70美元,为疫情以来的首次,相信是次油价上升,是因也门胡塞武装组织於3月7日攻击沙特的石油设施、美国德州天气恶劣,及OPEC+维持现有的减产计划。
该行相信,国际油价维持稳定於每桶60至70美元,有助支持中石油(00857.HK)的盈利改善,将对集团今年的布兰特油价假设由每桶50美元调升至62美元,明年则由58美元升至65美元,并因而上调其今明两年每股盈利预测37%至52%。
业绩方面,该行称中石油早前已公布去年纯利料介乎167亿至207亿元人民币,按年下跌55%至63%,相信市场或已反映其疲弱的业绩表现。
大和上调中石油股份目标价,由2.7元升至3.3元,相当预测市账率0.44倍,反映油价上升,维持对其「跑赢大市」评级,认为即使集团年初至今股价已上升27%,但其估值仍然吸引,相当於一年预测市账率仅0.4倍。
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