《大行報告》建銀國際上調中石化(00386.HK)目標價至5.65元 評級「跑贏大市」
建銀國際發表研究報告指,中石化(00386.HK)首季淨利潤按年下降12%,在同業中降幅最大,但集團能夠加強對石油氣生產的成本控制,從而改善其上游業務的盈利能力,其中,營業利潤率從2022年第一季的13%上升到今年第一季的16%。此外,雖然集團下游業務按年表現不及其他同業,但按季來看,其營銷業務明顯回升。
該行表示,鑑於集團第一季的盈利優於預期、天然氣平均售價較預期好以及原油生產成本低於預期,將集團2023及24財年的盈利預測分別上調9%及6%。目標價由5.5元上調至5.65元,維持「跑贏大市」評級。
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