Damo: Update the CNOOC Oilfield Service (02883) risk-return assessment target price to HK$9.22

The Zhitong Finance App learned that Morgan Stanley released a research report saying that it has updated the risk-return assessment of CNOOC Oilfield Services (02883). The reason is that Damo included the company's actual performance from the first to third quarters of last year into the model and raised last year's forecast earnings per share by 2.5% due to better drilling revenue than expected, but left the 2026 and 2027 forecasts unchanged. Damo also raised the daily rent increase forecast for the company's semi-submersible platform from 8% to 20%. As a result, the drilling revenue predicted by the Group last year was raised by 6%, and the target price was raised by 2.44% to HK$9.22, making the rating “increase”.