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<Research>UBS Trims CNOOC (00883.HK) TP to $26, Rating Buy
Recommend 5 Positive 7 Negative 7 |
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CNOOC (00883.HK)'s 1Q25 net profit rose -8% YoY/ +72% QoQ to RMB36.56 billion, in line with expectations, according to a research report issued by UBS. The broker lowered its 2025-2027 profit forecasts for the Company by 10%/ 12%/ 4% each, reflecting its latest oil price projections. However, UBS believed that the Company will maintain its impressive production growth and cost advantage. Therefore, the broker also trimmed its target price on CNOOC's H-shares from $28.2 to $26, with rating at Buy. AAStocks Financial News |
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