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<Research>CCBI Cuts CNOOC's TP to HKD19.6; Rating Kept Outperform
CCBI has issued a research report cutting its target price for CNOOC (00883.HK) by 6.7% from HKD21 to HKD19.6, while maintaining the Outperform rating unchanged.Based on CNOOC'...
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<Research>CCBI Cuts CNOOC's TP to HKD19.6; Rating Kept Outperform
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CCBI has issued a research report cutting its target price for CNOOC (00883.HK)  +0.100 (+0.565%)    Short selling $40.93M; Ratio 3.275%   by 6.7% from HKD21 to HKD19.6, while maintaining the Outperform rating unchanged.

Based on CNOOC's current cost control and oil production performance, CCBI revised upward its 2026-27 oil and gas production forecasts by 1% to 780 million/ 800 million barrels.

Related NewsBOCI Downgrades CN Oil Sector/ SINOPEC CORP (00386.HK) to Neutral/ Hold
To reflect the company's cost management effectiveness, the broker reduced its 2026-27 full cost forecasts by 10%/ 11% to USD26.7/ USD26.2 per barrel. It also axed its 2025-26 net profit forecasts by 15%/ 11% due to the expected decline in crude oil prices.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-23 16:25.)

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