[ET Net News Agency, 13 April 2021] HSBC Global Research raised its target price for
Sinopec SSC (01033) to HK$0.78 from HK$0.54 and maintained its "hold" rating.
The research house said there is some evidence that the cumulative impact of cost
reductions over the last five-plus years should give the company more operating leverage
in this cycle while drilling margins should improve over the forecast horizon.
Key upside risks include sustained higher oil prices and higher levels of upstream capex
by key customers. Key downside risks include longer-term economic and industry growth
constraints related to COVID-19, severe OFS industry competition and associated margin
contraction, capex underspend by the "Big Three". (RC)
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01033 SINOPEC SSC
Nominal 
0.560 +0.020 (+3.704%) Research Report
13/04/2021 17:23
{I-bank focus}HSBC raises Sinopec SSC (01033) to HK$0.78
| Remark: | Real time quote last updated: 10/05/2024 17:59 |
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