UBS Sticks to Their Buy Rating for China Oilfield Services (CHOLF)

In a report released on August 26, from UBS maintained a Buy rating on China Oilfield Services, with a price target of HK$12.00. The company’s shares closed last Tuesday at HK$7.22.

China Oilfield Services has an analyst consensus of Strong Buy, with a price target consensus of HK$10.82.

Based on China Oilfield Services’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of HK$11.3 billion and a net profit of HK$855.69 million. In comparison, last year the company earned a revenue of HK$10.8 billion and had a net profit of HK$887.19 million