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<Research>HSBC Research Lifts PETROCHINA (00857.HK) TP to $13.8 as 1Q Earnings Show Resilience
PETROCHINA (00857.HK) delivered resilient 1Q26 results, with net profit rising 1.9% YoY, as growth in natural gas sales offset the impact of lower realized oil prices, HSBC Global ...
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<Research>HSBC Research Lifts PETROCHINA (00857.HK) TP to $13.8 as 1Q Earnings Show Resilience
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PETROCHINA (00857.HK)  -0.110 (-1.005%)    Short selling $438.96M; Ratio 45.261%   delivered resilient 1Q26 results, with net profit rising 1.9% YoY, as growth in natural gas sales offset the impact of lower realized oil prices, HSBC Global Research issued a research report saying.

The broker believed that natural gas has been the key growth engine in recent years, but expected oil to become the primary earnings driver for the remainder of the year.

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Given PETROCHINA's integrated supply chain and diversified presence across the oil and gas sector, HSBC Global Research remained positive on the Company, and projected stronger earnings and cash flow this year to support an improved dividend outlook.

Therefore, the broker kept ratings at Buy on PETROCHINA's H-/ A-shares, and lifted its target price for PETROCHINA's H-shares from $11.7 to $13.8, while keeping its target price for PETROCHINA's A-shares at RMB14.7.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)

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