Huatai Securities: Maintains an "accumulate" rating on Hengli Petrochemical, raises target price to 30.5 yuan.

Huatai Securities research report pointed out that since 26Q1, overseas supply changes combined with strong cooperation willingness among domestic industry leaders, the price spread of PX-PTA-polyester filament industry chain has significantly increased. It is expected that the recovery of the polyester industry chain will have a positive impact on Hengli Petrochemical's profits. The risk of short-term transportation blockage in the Strait of Hormuz has significantly increased, which may trigger supply risks for crude oil, natural gas, methanol, and other energy chemical products. The company's crude oil imports come from a wide range of sources, including the Middle East and South America, and currently, crude oil inventories are relatively high, making refinery raw material supply risks relatively controllable. Considering the company is expected to benefit fully from the recovery of the petrochemical industry, the target price is raised to 30.50 yuan, maintaining a "buy" rating.