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<Research>CLSA: PETROCHINA Profit In Line w/ Surprise from Div.; TP Hiked to $8
Recommend 9 Positive 13 Negative 6 |
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CLSA published a report highlighting that one of the surprises from PETROCHINA (00857.HK)’s 2024 results was a 2-ppt YoY elevation in its dividend payout ratio to 52%, making it the only Chinese oil giant to raise its payout ratio YoY this earnings season. Apart from this, the company’s full-year 2024 and 4Q24 profit performance met expectations, with the natural gas segment shining due to higher winter gas prices in 4Q24. The broker raised its 2025-26 EPS forecasts for PETROCHINA by 2%, lifting the H-share target price from HKD7.9 to HKD8 and the A-share target from RMB11.1 to RMB11.2. Following the results announcement, CLSA reaffirmed its Outperform rating. AAStocks Financial News |
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