Credit Suisse Upgrades CNOOC Ltd. (CEO) to Outperform

Credit Suisse upgraded CNOOC Ltd. (NYSE: CEO) from Underperform to Outperform.

Credit Suisse analyst Horance Tse comments "CNOOC has significantly underperformed oil prices and global peers since the OPEC deal announcement on 30 November 2016, consistent with our Underperform call, with the market concerned about deteriorating production and low reserve life. We expect a reversal of the underperformance trend, hence we upgrade the stock to OUTPERFORM (from Underperform)."

For an analyst ratings summary and ratings history on CNOOC Ltd. click here. For more ratings news on CNOOC Ltd. click here.

Shares of CNOOC Ltd. closed at $127.10 yesterday.

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