[ET Net News Agency, 4 October 2018] UBS Global Research maintained its target price
for CNOOC (00883) at HK$16.6, but downgraded its rating to "neutral" from "buy" following
strong share price performance.
The research house said its investment case has been based on oil price leverage, and
strong reserves replacement potential. UBS said CNOOC's share price has rallied by 38%
year-to-date. This has mirrored a 40% rise in consensus EPS estimates (2019), outperformed
a 27% rally in Brent.
While the current US$85/bbl Brent crude oil price environment suggests upside risks to
consensus EPS estimates, UBS believes the share price may have already captured some of
the upside. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00883 CNOOC
Nominal 
20.500 +0.580 (+2.912%) Others
04/10/2018 17:43
[I-bank focus]UBS downgrades CNOOC (00883) to "neutral"
| Remark: | Real time quote last updated: 10/05/2024 17:59 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |