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<Research> CLSA Expects SINOPEC CORP (00386.HK) to Face Real Test in 2Q, Cuts TP to HKD4.9
Recommend 6 Positive 9 Negative 7 |
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CLSA said in a research report that SINOPEC CORP (00386.HK) recorded net profit of RMB17.7 billion in the first quarter, up 27% YoY and 43x QoQ, accounting for 42% of the brokers full-year forecast. The broker believes the results reflect that the companys operations have remained normal amid tensions in the Middle East. However, it expects the real test to emerge in the second quarter, as crude oil supply disruptions starting in April may begin to affect the companys import performance. Taking potential risks into account, the broker lowered its EPS forecasts for 2026 to 2028 by 2% to 7%. It cut the TP for SINOPEC CORP (00386.HK) H shares from HKD5.2 to HKD4.9, and reduced the TP for SINOPEC (600028.SH) A shares from RMB7.1 to RMB6.4, while maintaining an Outperform rating on both. (ss/u) 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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