大行評級|美銀:下調今年布蘭特原油價格預測至65美元 下調中石油及中石化目標價
美銀證券發表研究報吿,預期高關税打擊全球需求,將導致今年全球石油市場供過於求的規模由每日32萬桶增至每日65萬桶,相應將今年布蘭特原油價格預測下調至年初水平,即每桶65美元,並將2026年預測從每桶73美元下調至70美元。美銀證券認為,中國石油盈利韌性強,預期進口天然氣成本將隨着油價下降,中石油今年單位利潤率可能提升,基於最新油價預測及利潤率潛在提升,將其今明兩年盈利預測下調11%及8%,目標價從7.2港元下調至6.8港元,評級“買入”。該行亦重申對中石化的“買入”評級,今明兩年盈利預測下調27%及10%,目標價從5港元下調至4.7港元,預期油價下跌時中石化受到庫存損失的拖累更大。
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