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<Research>HSBC Research: CNOOC's 2024 NP Misses; Growth Momentum Still Strong
Recommend 9 Positive 13 Negative 15 |
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According to HSBC Global Research's report, CNOOC (00883.HK)'s FY24 net profit soared by 11% YoY, which was 3% lower than the broker's expectations, primarily due to higher-than-expected impairment of its overseas assets. CNOOC's dividend per share was raised to $1.4, implying a payout ratio of 45%. The company's management anticipated that the payout ratio for FY25-27 would not be less than 45%. HSBC Global Research was also upbeat about the rapid growth of CNOOC's high-quality assets and the dividend yield supported by a strong balance sheet. In light of CNOOC's still robust growth momentum, the broker kept its target price at $21 for the company's H-shares and maintained the Buy rating unchanged. AAStocks Financial News |
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