《大行報告》瑞銀下調中海油服(02883.HK)目標價至11.2元 評級「買入」
瑞銀髮表研究報告指,中海油服(02883.HK)第三季盈利表現繼續錄得按年及按季增長,但增長步伐較該行及市場預期慢,首三季淨利潤僅達到瑞銀全年預測的50%,或令市場下調盈利預測。
該行指出,公司主要客戶中海油(00883.HK)第三季資本開支增速提升至13.8%,但仍低於中海油資本支出指引下限,預期下半年增長速度將加快至24%,即中海油服第四季有強勁增長空間。
瑞銀認爲,雖然中海油服早前股價累跌15%可能已經反映部分擔憂,但相信投資者會對業績感到失望,基於第三季表現將2021至2023年每股盈利預測下調19%、13%及8%,目標價由12元降至11.2元;仍認爲全球油田服務行業處於多年上升週期的早期階段,維持「買入」評級。
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