HSBC Research Lifts PETROCHINA TP to HKD13.8; 1Q26 Earnings Show Resilience
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HSBC Research has raised the target price for PETROCHINA H-shares from HKD11.7 to HKD13.8, maintaining a Buy rating. The report highlights PETROCHINA's resilient 1Q26 earnings, with a 1.9% YoY net profit increase, driven by natural gas sales despite lower oil prices. HSBC expects oil to become the main earnings driver for the rest of the year and anticipates stronger earnings and cash flow to enhance dividend prospects.
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