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<Research>CLSA Lifts PETROCHINA's TP to HKD8.6; 2Q Results Resilient Than Expected
Recommend 31 Positive 48 Negative 16 |
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PETROCHINA (00857.HK) delivered resilient-than-expected 2Q25 results, with its earnings downfall surpassing that of SINOPEC CORP (00386.HK), according to CLSA's research report. Apart from the chemical business, the divergent sales trends of the two companies in 2Q25 were noteworthy, which the broker estimated to see even wider differences over the coming quarters. PETROCHINA's dividend payout ratio increased by 6 ppts YoY to 48%, once again outpacing SINOPEC CORP's, likely to delight the market. CLSA lifted its target prices for PETROCHINA's H-shares from HKD8 to HKD8.6 and for its A-shares (601857.SH) from RMB11.2 to RMB11.9, both with an Outperform rating. The broker's industry preference order was: PETROCHINA > CNOOC (00883.HK) > SINOPEC CORP. AAStocks Financial News |
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