Bernstein:下調中石油(0857.HK)及中海油(0883.HK)投資評級與目標價
Bernstein發表研究報告指,石油輸出國組織和盟友(OPEC)不減產的決定,出乎市場意料,促使Bernstein下調亞洲地區石油股之評級。
Bernstein將中石油(0857.HK)和中海油(0883.HK)投資評級從“優於大市”下調至“與大市同步”,中石油目標價從6.4港元下調至3.4港元,中海油目標價從18.1港元降至10港元。中海油服(2883.HK)評級從“與大市同步”下調至“遜於大市”,目標價從12.6港元下調至9.3港元。
報告説,布倫特原油期貨“可能跌至供應邊際現金成本36美元/桶以下”,與2014年上一次OPEC意外行動時比較,如今正承受需求下降壓力的石油市場,情況可能更糟糕。
報告指,OPEC+的決定讓市場面臨巨大的供應過剩風險,並給新戰略帶來不確定性;高Beat和高槓杆公司可能受油價下跌的打擊最大;預計每桶35至40美元的油價,對於石油股來説是有吸引力重返時點。
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