CLSA has released a research report stating that PETROCHINA's overall profit for the previous year held no surprises, with net profit declining 4% year-on-year to 157 billion yuan, aligning with the firm's expectations. However, the increase in the dividend payout ratio to 55% is viewed as positive news and should be well-received by the market. Benefiting from more favorable shareholder returns, PETROCHINA has outperformed its peers over both the past 6 and 12 months, and CLSA anticipates this trend will continue throughout the current year. Incorporating updated oil price assumptions, the firm has raised its earnings per share forecasts for 2026 to 2028 by 10% to 18%. The target price for PETROCHINA's H-shares has been increased from HK$9.6 to HK$12, while the target for its A-shares has been raised from 13.1 yuan to 15.9 yuan. CLSA reaffirmed its "Outperform" rating on the stock.