Market Overview

Morgan Stanley Suggests Shorting CNOOC

Related CEO
Bank Of America Remains Bearish On Fundamentals For Oil In China
Benzinga's Top Upgrades
New Strong Sell Stocks for October 2nd (Zacks)

Early Wednesday morning, CFA and Morgan Stanley analyst Andy Meng released a note in which he added CNOOC (NYSE: CEO) to the Short Research Tactical Idea list.

Meng believes that over the next 60 days shares of CNOOC will fall in "absolute terms." He says that it is 60 to 70 percent likely that the company will report a year-over-year earnings decline for the first half of 2014 due to limited production growth and increased operational costs.

This, however, has not changed Meng's long-term view on the stock, in which he sees benefits from new project launches in the fourth quarter of 2014 and the first quarter of 2015. With this is mind, Meng has maintained an Overweight rating on CNOOC.

Latest Ratings for CEO

Sep 2015JefferiesUpgradesBuy
Aug 2015Bank of AmericaUpgradesNeutralBuy
Aug 2015Bank of AmericaMaintainsNeutral

View More Analyst Ratings for CEO
View the Latest Analyst Ratings

Posted-In: Andy Meng Morgan StanleyAnalyst Color News Short Ideas Reiteration Analyst Ratings Trading Ideas


Related Articles (CEO)

View Comments and Join the Discussion!

Get Benzinga's Newsletters