《大行報告》瑞信下調中石化(00386.HK)目標價至3.6元 評級「中性」
瑞信發表研究報告,維持中石化(00386.HK)「中性」評級,H股目標價由3.9元下調至3.6元,並上調2022至2023財年每股盈測介乎11%至14%,以反映對油價最新預測。
該行指出,當國家發改委開始採取行動,推遲內地汽油/柴油價格上漲時,市場會出現負面反應,在高油價下,中石化將會面臨不利風險回報,故在中國石油股中,最不偏好中石化。
該行稱,俄烏衝突是全球石油市場的重大分水嶺,將今年布油期貨價格預測由每桶75美元上調至100美元,並上調在2023至2025財年預測由62美元,上調至分別85美元、80美元以及70美元,長期價格則由62美元上調至65美元。
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