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<Research> BOCI Raises PETROCHINA (00857.HK) TP to HKD12.85, Lifts Earnings Forecasts
Recommend 11 Positive 13 Negative 11 |
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BOCI published a research report stating that PETROCHINA (00857.HK) recorded a 2% YoY increase in net profit to RMB48.3 billion in 1Q26. Although all downstream business segments achieved rapid profit growth, the decline in upstream earnings due to lower realized oil prices offset the overall profit growth. The broker expects overall profit to grow QoQ in 2Q26, driven by a substantial increase in upstream earnings. In view of higher oil price forecasts and earnings adjustments, BOCI raised its earnings forecasts for 2026 to 2028 by 4% to 6%. BOCI reiterated its Buy rating on PETROCHINA and lifted its H-share TP to HKD12.85. (ad/u) Auto-translated by AI This article was automatically translated by AI, the original language 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. More Details
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