The Zhitong Finance App learned that Lyon released a research report saying that CNOOC Oilfield Services (02883) performed steadily in the third quarter, in line with full-year expectations. The bank maintained a “outperforming the market” rating, and the target price for H shares remained unchanged at HK$10.8.

The bank expects that current oil prices will rise for a long time, providing strong support for the company's business. CNOOC's net profit for the first nine months was RMB 3.2 billion, which is equivalent to about 70% of the bank's and market forecasts for the whole year, slightly lower than the progress of about 80% over the same period in history. The bank lowered the target price of CNOOC Oil Services (601808.SH) A shares from RMB 22 to RMB 20.7, and lowered its 2026-2028 profit forecast by 4 to 6%.

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