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<Research>CLSA: SINOPEC CORP (00386.HK) Transition Period Longer Than Expected; TP Cut to $4.6
Recommend 21 Positive 29 Negative 18 |
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SINOPEC CORP (00386.HK)'s 1Q25 earnings fell 25% YoY, while its 1Q25 sales figures indicate a challenging downstream operating environment in China, according to a research report released by CLSA. CLSA had previously said that SINOPEC CORP is currently in a period of transition, but this phase seems to be longer than the broker's original anticipation. Therefore, CLSA cut its target price for SINOPEC CORP's H-shares from $4.7 to $4.6, with rating at Outperform. The broker's order of preference for 3 Oils is PETROCHINA (00857.HK), CNOOC (00883.HK) then SINOPEC CORP. AAStocks Financial News |
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