[ET Net News Agency, 31 October 2019] J.P. Morgan raised its target price for China
Oilfield Services (COSL)(02883) to HK$12.8 from HK$10.6 to reflect its solid fundamentals
and further potential for FY2020. It maintained its "overweight" rating.
The research house said COSL's 3Q results beat its forecast. Both financial performance
and operational activities have shown positive momentum.
COSL stated that China oil service activity continues to accelerate. Drilling calendar
day utilization for both jackups and semi-subs was up 19% and 5%, respectively, and up
4% for all marine support vessels for 9-month. (KL)