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<Research>JPM Adds SINOPEC CORP (00386.HK) TP to $4 w/ Rating Neutral
Recommend 27 Positive 45 Negative 20 |
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SINOPEC CORP (00386.HK) announced its operational data for 1H25, with upstream production being in line with expectations, but the downstream refining/production/sales volume only accounting for 46-49% of the 2025 guidance, according to JPMorgan's research report. SINOPEC CORP will announce its 1H25 results on 24 August, and hold a management conference call on 25 August. The broker forecasted its 2Q25 net profit to be RMB7.2 billion, with a DPS of RMB0.09. JPMorgan kept rating at Neutral on SINOPEC CORP due to the expectation that SINOPEC CORP's FY2025 net profit will decline for the fifth consecutive year, and added its target price from $3.6 to $4. The broker also reiterated PETROCHINA (00857.HK) as its top pick among oils. AASTOCKS Financial News Website: www.aastocks.com |
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