Lyon: Uplifted CNOOC Service (02883.HK) Target Price to 9.3 Hong Kong Dollars, Maintains "Outperform" Rating

According to the Zhitong Finance APP, it was reported that Lyon issued a research report stating that the drilling platform utilization rate of COSL (CNOOC) has rebounded to over 90%, which has uplifted the market. The bank believes that the company has stronger pricing power, thus bringing significant operational leverage to its drilling business. If the group can also improve drilling services, it will provide dual momentum and drive more significant revaluation. The bank has raised its earnings forecast for COSL for 2025 to 2027 by 0 to 1%, and raised the target price for its H shares from 8.4 Hong Kong dollars to 9.3 Hong Kong dollars, while the target price for its A shares has been raised from 18.3 RMB to 19.5 RMB, maintaining an "outperform the market" rating.