Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>JPM Downgrades CNOOC (00883.HK) to Underweight, Trims TP to $13.5
Recommend 20 Positive 37 Negative 30 |
||||
|
||||
|
CNOOC (00883.HK)'s 1Q25 net profit fell 8% YoY, accounting for 27% of the market's full-year net profit forecast, with the Company's average selling price/ output of natural gas rising 1%/ 5% YoY, which failed to offset the impact of the 8% YoY decline in oil prices, JPMorgan released a research report saying. After CNOOC's results, JPMorgan lowered its FY2026 EPS forecast by 21% to reflect the Brent crude oil price, and strategically downgraded the stock from Overweight to Underweight. The broker trimmed its target price to $13.5 from $22. In the face of weak oil prices or macro environment, PETROCHINA (00857.HK) is JPMorgan's only Overweight option in Chinese energy stocks due to its high leverage on China's natural gas and its successful decoupling from oil prices since 2022, according to the report. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
