CLSA: PETROCHINA (00857) Offers Superior Dividend Outlook and Stability Among Peers, Raises Target Price to HK$8.8
Stock News
Nov 03
PETROCHINA (00857) demonstrated stable and resilient profitability in Q3 despite oil market volatility, which may appeal to income-focused investors, according to a CLSA report. The brokerage highlighted that PETROCHINA boasts the best dividend outlook and stability among its peers, making it the top pick among China's "Big Three" oil giants. CLSA raised its target price for the H-shares from HK$8.6 to HK$8.8 and for the A-shares (601857.SH) from RMB 11.9 to RMB 12, reiterating an "Outperform" rating.
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