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<Research>CLSA Adds PETROCHINA (00857.HK) TP to $8.3 as 3Q Results Beat
Recommend 5 Positive 11 Negative 4 |
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PETROCHINA (00857.HK)'s 3Q24 earnings beat CLSA's expectation, mainly due to lagging oil realizations in its exploration and production division that have yet to be reflected in the oil price decline at the end of 3Q24, CLSA released a research report saying. PETROCHINA's natural gas business performance set a record high in 3Q24, according to the report. With the execution of the winter price hike, PETROCHINA's strong momentum is expected to continue into 4Q24 and 1Q25. Therefore, the broker added its target price for PETROCHINA's H-shares from $8.2 to $8.3, with rating reiterated at Outperform. AAStocks Financial News |
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