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<Research>BOCI Adds PETROCHINA (00857.HK) TP to $12.12, Keeps Buy Rating
Recommend 6 Positive 12 Negative 7 |
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PETROCHINA (00857.HK)'s 2025 net profit fell by 4% YoY to RMB157.3 billion, in line with BOCI's expectation, BOCI published a research report saying. The growth in the downstream business largely offset the decline in upstream business earnings. The broker anticipated the 2026 average Brent oil price to rise 19% YoY to US$81 per barrel, driving a 25% YoY increase in earnings this year. Although the Middle East conflict affects some overseas upstream operations and oil & gas supply, the Company's extensive international trade network will ensure sufficient oil and gas supply for its downstream business. BOCI raised its 2026 dividend payout ratio assumption for PETROCHINA from 45% to 50%, and added its target prices for PETROCHINA's H-/ A-shares from $11.62/ RMB13.68 to $12.12/ RMB14.22, with ratings kept at Buy. This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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