智通财经APP获悉,高盛发布研报称,继续看好中国石油股份(00857)及中国海洋石油(00883),将中石油目标价由8港元升至8.3港元,将中海油目标价由20港元升至20.9港元,均予“买入”评级,预期两者2026财年自由现金流收益率(FCF Yield)均有双位数,收益率在同行中较高,且估值亦较国际同行平均水平低。假设布兰特油价为每桶60美元,两者收益率仍分别有10%及9%。
另外,该行维持中国石油化工股份(00386)的“中性”评级及目标价3.7港元,因预期集团自由现金流收益率较弱,基于化工行业持续过剩,以及资本开支高企,令该行更看好上游企业。
基于近期的地缘政治事件,次季布兰特油价已达每桶67美元,高于该行早前预计的65美元。而国有企业炼油厂的减产,加上独立炼油厂的低使用率,令本地油产品库存下降,以致在需求疲弱下,次季炼油利润仍高过预期。基于次季油价下跌20%,该行预期中石油及中石化净收入分别同比跌30%及46%,而中海油上半年净收入则跌16%。
更多港股重磅资讯,下载智通财经app
更多港股及海外理财资讯,请点击www.zhitongcaijing.com(搜索“智通财经”);欲加入智通港股投资群,请加智通客服微信(ztcjkf)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.