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<Research>DBS Raises PETROCHINA's TP to HKD8, Rating Kept Buy
Recommend 12 Positive 15 Negative 5 |
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PETROCHINA (00857.HK)'s 2Q25 results slightly exceeded expectations, with net profit down by 13% YoY to RMB37 billion, mainly due to a roughly 20% drop in oil prices, according to a DBS research report. In the broker's opinion, oil prices seem to be stabilizing in the USD65-70 per barrel range, with market attention on the potential easing of the downstream supply surplus. The broker kept a Buy rating on PETROCHINA and raised its target price from HKD7.3 to HKD8, given that the valuation model had been updated to FY26, with a modest upward adjustment in the valuation of the downstream business. AAStocks Financial News |
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