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26582 SG-HSI @EC2501A (CALL)
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29/10/2024 15:36

{I-bank focus}HSBC lowers CNOOC (00883) to HKD21.5

[ET Net News Agency, 29 October 2024] HSBC Global Research lowered the target price for
CNOOC (00883) to HKD21.5 from HKD23.4 and maintained the "buy" rating.
The research house said CNOOC's balance sheet continued to strengthen in 9M24 with net
cash to equity ratio expanding from 12% in end-2023 to 21% in end-Sep24, which could open
up room for further increase in dividend payout ratio when CNOOC rolls over three-year
operational plan in January 2025. (rc)

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