CNOOC: Cost-Leadership, Visible Growth, and Undemanding Valuation Support Buy Rating
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DBS analyst Dennis Lam has reiterated a Buy rating on CNOOC (NC2B), citing its cost leadership, growth visibility, and undemanding valuation. The company boasts low production costs, steady output growth, and a commitment to clean energy investments. CNOOC offers mid-single-digit production growth, a solid dividend yield, and strong leverage to rising oil prices. Lam highlights the stock's attractive earnings multiples and ongoing share buybacks. UBS also supports the Buy rating with a price target of HK$37.80.
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