CITIC Securities International: Raise target price of PetroChina (00857.HK) to HK$8.08, maintain "buy" rating.

According to the Wisdom Finance APP, CCB International released a research report stating that China Petroleum & Chemical Corporation (00857.HK) saw a 2% year-on-year increase in first quarter profits to 46.8 billion yuan, which exceeded the bank's forecast by 9%. The operating profit of the group's upstream sector was surprisingly strong, growing by 7% year-on-year even as oil prices fell by 7%. The bank has raised its profit forecast for the group for the years 2025 to 2027 by 1% to 2%, maintained a "buy" rating, and slightly increased the H-share target price from the original 8.06 Hong Kong dollars to 8.08 Hong Kong dollars.