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Fly News Breaks for March 15, 2019
CEO
Mar 15, 2019 | 08:01 EDT
JPMorgan analyst Scott Darling downgraded CNOOC to Neutral from Overweight with a price target of HK$14.30. The shares have outperformed by almost 25% in absolute terms year-to-date, Darling tells investors in a research note. He believes the stock is now pricing in oil closer to $70 per barrel oil, relative to his firm's view of $60 per barrel oil. The analyst sees limited upside potential in CNOOC shares as well as a lack of catalysts.
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