CICC raises target price of CNOOC (00883.HK) to 36 Hong Kong dollars, reiterates "outperform" rating in market.

Wisdom Securities APP learned that CICC has released a research report stating that it has raised the target price of CNOOC (00883.HK) H shares by 12.5%, from 32 Hong Kong dollars to 36 Hong Kong dollars, and also raised the target price of A shares while reiterating an outperform rating. The U.S. Department of Defense has decided to remove CNOOC from the list of Chinese military companies, which is a significant breakthrough that lifts the restrictions that have hindered foreign investors from investing in the stock since 2021. This means that CNOOC can finally return to the attention of foreign investors. Therefore, the bank has raised the target price for the company.