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<Research>DBS: PETROCHINA (00857.HK) TP Lifted to $12.2 as Best Oil Alternative Investment
Recommend 13 Positive 21 Negative 12 |
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PETROCHINA (00857.HK) is the largest integrated oil major in China, and plays a key role in advancing China's carbon neutrality policy and energy transition, and is regarded as the best oil alternative investment, DBS Group Research issued a research report saying. The broker expected that, driven by elevated oil prices and a recovery in downstream operations, PETROCHINA's 2026 earnings will rise and remain at a high level, supporting its capital expenditure and dividend distribution. Based on a dividend payout ratio of about 50-55%, dividend yield for the next two years is forecasted to reach 5%. Therefore, DBS Group Research raised its 2026/ 2027 earnings forecasts for PETROCHINA by 9%/ 1%, and lifted its SOTP-based target price to $12.2, with rating kept at Buy. Auto-translated by AI AASTOCKS Financial News |
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