[ET Net News Agency, 17 December 2019] Credit Suisse raised its target price for CNOOC
(00883) to HK$16.5 from HK$16 and reiterated its "outperform" rating.
The research house expects CNOOC management to paint an upbeat tone at its upcoming 2020
Strategy Preview on 13 January 2020. This should be a near-term catalyst for the stock
after it has de-rated, undeservedly, along with the Energy Sector in 2019.
Credit Suisse expects CNOOC to raise its 2020-21 production guidance by 3%, driven by a
number of new projects coming on stream plus better-than-expected 2019 volume which is 2%
above target. It revised up its 2020-21 EPS estimates by 2-3%. (KL)
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00883 CNOOC
Nominal 
18.620 +0.220 (+1.196%) Others
17/12/2019 11:58
{I-bank focus}Credit Suisse raises CNOOC (00883) to HK$16.5
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