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<Research>CLSA Elevates CNOOC (00883.HK) TP to $32, Raises Earnings Forecasts
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CNOOC (00883.HK)'s 2025 earnings were slightly below expectations, CLSA released a research report saying. However, considering that oil prices fell to US$60 per barrel at the end of 2025, the results remained solid.

Incorporating the latest oil price assumptions, the broker raised its 2026-2208 EPS forecasts by 13-33%, and elevated its target prices for CNOOC's H-/ A-shares from $22.8/ RMB31.1 to $32/ RMB44, with ratings kept at Outperform.

Related News Citi: CNOOC (00883.HK) Last Year's Net Profit and Dividend Below Expectations, Maintains 'Buy' Rating

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