《大行報告》星展升中海油(00883.HK)目標價至19元 增長及效率卓越
星展發表報告指,中海油(00883.HK)去年盈利表現遜於市場預期5%,主要由於實現油價下降及稅率提高,但同時其儲量及產量均有快速增長,意味所有成本降低5%至每桶28.83美元。
另外,集團宣派去年末期股息每股65港仙,派息比率為44%,高於指引的40%,股息收益率處8%的吸引水平。
星展上調中海油H股目標價,由16元升至19元,重申「買入」評級,認為集團估值仍不昂貴,僅相當於今年市盈率5%及市賬率1倍。
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