Bank of America Securities has released a research report, raising its investment rating on China Oilfield Services from "underperform" to "neutral", indicating that its current price valuation is low. The stock price of the H-share corresponds to a forecasted P/E ratio of 0.6 times in 2024, which is significantly lower than the historical average of 0.8 times. Concerns about idle drilling rigs have been partially alleviated, but significant fluctuations in international oil prices may still have an impact. Therefore, after considering the performance in the first half of the year, Bank of America has lowered its profit forecast for China Oilfield Services for the years 2024 to 2026 by 3% to 7%, and the target price has been lowered from HKD 9.3 to HKD 8.8.