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<Research Report>BOCI Lifts PETROCHINA (00857.HK) TP to $7.06; 2023 Core Profit Beats
BOCI noted in a report that PETROCHINA (00857.HK)'s profit rose 8% YoY to RMB161.1 billion last year, beating the broker's forecast by 4%. The company grew on the back of s...
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<Research Report>BOCI Lifts PETROCHINA (00857.HK) TP to $7.06; 2023 Core Profit Beats
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BOCI noted in a report that PETROCHINA (00857.HK)  +0.180 (+2.446%)    Short selling $335.08M; Ratio 26.820%   's profit rose 8% YoY to RMB161.1 billion last year, beating the broker's forecast by 4%. The company grew on the back of strong performance in its marketing and natural gas sales businesses, despite a sharp drop in oil prices.

BOCI expected PETROCHINA's earnings to grow 17% YoY this year in the absence of impairments, a reduction in other taxes and a small increase in downstream earnings. The broker also raised its profit forecast for 2024-25 by 14-15%.

Related NewsBrokers' Latest Ratings, TPs, Opinions on CNOOC (00883.HK) (Table)
BOCI reiterated its Buy rating on PETROCHINA H-shares and raised its target price to HK$7.06.


(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-04-26 16:25.)

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