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00883 CNOOC
RTNominal up8.920 +0.250 (+2.884%)
Research Report

17/09/2019 10:27

{I-bank focus}Daiwa upgrades CNOOC (00883) to HK$14.7

[ET Net News Agency, 17 September 2019] Daiwa Research raised its target price for
CNOOC (00883) to HK$14.7 from HK$13.4 and upgraded its rating to "buy" from "outperform".
The research house said CNOOC's share price increased by 7% today amid a 10% hike in the
Brent oil price. The oil production facilities in Saudi Arabia were attacked by drones and
missiles on 14 September. This has disrupted half of the oil production in Saudi Arabia,
which amounted to 5.7mmbpd or 5% of the global oil production.
Daiwa lifted its oil price forecast from US$65/bbl to US$67/bbl in 2019 and US$66/bbl to
US$67/bbl in 2020. (KL)

Remark: Real time quote last updated: 09/04/2020 17:59
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