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花旗:維持中石油(0857.HK)“中性”評級 予目標價3.7港元
格隆匯 10-29 15:43

花旗發表研究報吿指,中石油(0857.HK)股價年初之今已上漲75%,油價再進一步攀升才能支持對該股的樂觀情緒。但該行預料布蘭特期油在第四季平均僅在每桶85美元的水平,反映目前油價再上升的空間有限。然而,該行憂慮未來幾季度進口天然氣虧損或愈發擴大,因為進口天然氣成本會隨着油價上漲而增加,而相關影響滯後6-9個月。花旗維持中石油H股“中性”評級,目標價3.7港元。

花旗提到,中石油第三季勘探與生產板塊EBIT(息税前利潤)按季增長53%至275億元人民幣,主要因為油價在第三季每桶上漲6美元至69美元。花旗又稱,中石油的進口天然氣虧損由上季的54億元人民幣擴大至第三季的64億元人民幣,這部分是由於進口氣成本上升,以及部分液化天然氣的採購增加以確保冬季供應充足;預料中石油第四季進口天然氣業務虧損將進一步擴大,全年虧損將介乎於100-120億元人民幣。

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