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<Research>DBS Cuts 2025-26 Earnings Forecasts for CNOOC on Higher Vulnerability to Oil Price Fluctuations
Recommend 5 Positive 10 Negative 16 |
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According to a report from DBS Group Research, CNOOC (00883.HK)'s stock price is closely linked to oil prices and will be more affected by oil price fluctuations. Considering that OPEC+ might cancel the daily reduction of 2 million barrels, which could dampen market sentiment and weaken this year's oil price outlook, the further upside potential for CNOOC's stock price is expected to be limited. Due to potential tax increases, the broker lowered its 2025-26 net profit forecasts for CNOOC by about 2%. It also reiterated the Buy rating but mildly cut its target price from $22 to $21.5. AAStocks Financial News |
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