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<Research>JPM Downgrades CNOOC to Neutral, Trims EPS Forecast
Recommend 19 Positive 28 Negative 14 |
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JPMorgan issued a report downgrading CNOOC (00883.HK) (600938.SH)'s rating to Neutral as its stock price had surpassed the broker's target price. In addition, JPMorgan, while considering CNOOC's current valuation reasonable, has adjusted its oil stock preferences: PETROCHINA (00857.HK) > SINOPEC CORP (00386.HK) > CNOOC. JPMorgan has lowered its 2026-27 EPS forecasts for CNOOC by 7-9% to reflect the weaker US dollar. CNOOC's target price remains at HKD23. AAStocks Financial News |
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