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DBS Group Research maintains "buy" rating on Cnooc with HK$30 target price
DBS Group Research expects China National Offshore Oil Corporation (Cnooc) earnings to remain resilient, citing its globally competitive cost base, strong project pipeline, and 6%-7% dividend yield. The bank notes that Cnooc's cash generation is a key positive, reinforcing its appeal as a high-quality oil proxy with visible shareholder returns. Cnooc shares were 0.6% higher at HK$25.06.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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