研報掘金|第一上海:首予中石油“買入”評級 目標價為10.06港元
第一上海發表報吿,首予中石油“買入”評級,目標價為10.06港元,預測中石油今年至2026年純利按年升7%至9%,對應每股盈利為0.95至1.09元。該行按國內外油企定價估值測算,給予中石油預測市盈率10倍估值。該行預期全球石油需求温和復甦,整體供需相對偏緊,油價有望繼續維持較高區間,料今年至2026年公司油氣和新能源板塊營收保持2%以上增長,煉化板塊營業收入保持高位。該行亦指,國內燃氣市場受益於氣價改革,氣價得以向終端疏導。公司天然氣價差有望長期維持,疊加公司堅持穩油增氣戰略,推動天然氣銷售量穩定提升,盈利模式有望向公共事業靠攏。預計今年公司天然氣板塊經營利潤按年升14.5%。
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