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<Research>BOCI Adds PETROCHINA (00857.HK) TP to $12.12, Keeps Buy Rating
Recommend 2 Positive 6 Negative 3 |
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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. AASTOCKS Financial News Website: www.aastocks.com |
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