Core Viewpoint - Morgan Stanley's research report indicates that CNOOC's A/H shares have underperformed PetroChina's A/H shares by 13% to 22% year-to-date, viewing OPEC's production increase as a signal of demand recovery and healthy global inventory levels rather than internal chaos or price wars [1] Group 1: Company Performance - CNOOC is expected to align its earnings yield with PetroChina, which may help limit its stock price decline despite an anticipated drop in international oil prices to $55 per barrel by the first quarter of next year [1] - The average earnings per share forecast for CNOOC has been raised by approximately 19% for the years 2026 to 2030 [1] Group 2: Target Price and Ratings - CNOOC's H-share target price has been increased from HKD 13.5 to HKD 23, with the rating upgraded from "Underweight" to "Overweight" [1] - CNOOC's A-share has been covered for the first time with an "Overweight" rating and a target price of CNY 30 [1]
大行评级｜摩根大通：上调中海油H股目标价至23港元 评级一举升至“增持”
Ge Long Hui·2025-09-04 05:24