大和:降中海油(0883.HK)目標價至9.9港元 料油價長期維持低迷
大和發表研究報告指,市場普遍預期石油輸出國組織的會談結果會出現減產協議,但結果卻是令人意外的俄羅斯和沙地阿拉伯談判破裂,預期油價將長期維持低迷,將中海油(0883.HK)目標價由11.8港元下調至9.9港元,投資評級亦由“持有”降至“遜於大市”。
該行表示,將今明年倫敦布蘭特原油價格預測分別降至每桶45美元及50美元,並指現時沒有跡象顯示新型肺炎將會減慢其爆發的速度,而國際能源署發表的研究報告或下調需求預測,相信將會進一步促使油價下跌。
該行續指,維持對中海油產量預測不變,相信只要布蘭特原油價格維持高於每桶39美元,其海外產能將維持其商業競爭力,該行並下調2020年至2021年每股盈利預測39%至48%,以反映油價下調的假設。

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