CLSA: CNOOC Likely to Meet Full-year Guidance, Maintains TP at HKD32
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CLSA's research report indicates that CNOOCis likely to meet its full-year guidance, maintaining a target price of HKD32. The company reported solid first-quarter results, with an average oil price of USD120 per barrel in Q2. CLSA anticipates potential upside in CNOOC's full-year earnings, supporting dividend expectations, and has reiterated its Outperform rating based on a forecast dividend yield of 6%.
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