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<Research>BofAS: SINOPEC CORP (00386.HK) 1H25 Operating Data Below Forecasts; TP $4.8
Recommend 17 Positive 31 Negative 8 |
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SINOPEC CORP (00386.HK)'s 1H25 operating data missed expectations, according to BofA Securities' research report. Its exploration and production (E&P) business was in line with expectations, with oil and gas output increasing by 2% YoY to 50% of its annual target. However, domestic crude oil output only added by 0.2% YoY, below the industry average of 1.3%, which will drag down NAPT. Considering the low valuation and forecasted decent dividend yield for 2025, the broker reiterated rating at Buy, with target prices for SINOPEC CORP's H-/ A-shares at $4.8/ RMB6.6. AASTOCKS Financial News Website: www.aastocks.com |
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