Core Viewpoint - Morgan Stanley's research report indicates that certain stocks in China's oil service and oil engineering sector have outperformed the industry average and Brent crude price increases over the past six months, driven by record-high new order volumes, stable backlog, strong delivery capabilities, and positive outlooks for capital expenditures from Chinese oil companies and new orders in overseas markets [1] Group 1: Company Recommendations - Sinopec Engineering is identified as the top pick in the industry, expected to achieve steady revenue and profit growth due to strong order growth momentum, with a projected dividend yield of 6% to 7%. The target price has been raised from HKD 7.1 to HKD 8.4, maintaining an "Overweight" rating [1] - CNOOC Services is expected to see a 20% year-on-year profit growth in FY2025 due to improved capacity utilization and order terms, with its H-share target price adjusted down from HKD 11 to HKD 10.4, also rated "Overweight" [1] - Sinopec Oilfield Services is noted for effective cost control and improved shareholder returns, with its H-share target price increased from HKD 0.92 to HKD 1.0. Meanwhile, CNOOC Engineering's target price has been raised from HKD 6.4 to HKD 7.1 following a new contract with Qatar Energy [1]
大行评级｜摩根大通：列中石化炼化工程为行业首选 目标价上调至8.4港元